Update on SamuelSamuel, who has a motorcycle transport business in Nakuru town, used his previous loan from KADET LTD to buy spare parts for his motorcycle. It has enabled him to keep the motorcycle in good condition for his business and he has been paying the loan amount well and in good time.
This is his second loan. He plans to use the loan to buy another motorcycle for his business. This will enable him to make more income that he will use to buy another motorcycle and thereby expand his business.
He hopes to grow his transport business and buy a motor vehicle for his transport business in the future.
Previous Loan DetailsSamuel is 28 years old, from Nakuru, and married with two children, who are aged three to six years old. Samuel has a motorbike business that he has operated for the past six years. He has applied for his first loan from KADET LTD to enable him to buy spare parts for his motorbike. He hope... More from Samuel's previous loan »
About VisionFund KenyaVisionFund Kenya is dedicated to economically empowering its clients by providing financial services to improve living conditions of micro-entrepreneurs and their children across Kenya. VisionFund Kenya is the microfinance subsidiary of World Vision Kenya. Obtain more information on VisionFund Kenya from its website.
Concurrent and Successive Loans
Our Field Partners often work with borrowers over a series of loans as the borrowers build credit, take out bigger loans, and expand their businesses. In order to make it easier for our Field Partners to post loans for borrowers who have been listed on Kiva before, we allow them to post successive and concurrent loans for their Kiva borrowers. This means that our Field Partners are able to post a borrower's second, third, etc., loan on Kiva without having to re-enter all of the borrower's information.
This borrower has been listed on Kiva before, so you'll see an updated loan description, as well as excerpts of the original descriptions from earlier loans. Most borrowers take out loans consecutively, meaning that they receive a second loan after having repaid the first. However, sometimes our Field Partners give out concurrent loans, allowing borrowers to take out one primary loan and a secondary "add-on" loan along with it. These "add-on" loans are typically smaller than the borrower's primary loan and serve a different purpose. Because Field Partners can now post loans as successive and concurrent loans, you will be able to track borrower progress over time and see the various ways a borrower is working with our Field Partners through funds from Kiva’s lenders.
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