Update on NicholusNicholas is 27 years old, married, and blessed with a two-and-a-half-year-old child. He sells utensils, a business he started six years ago, and earns a monthly income of KES 19,000. He wants to purchase more spoons, plates, "sufuria"s and water jugs for sale, and therefore has requested for a second loan of KES 50,000.
The profit he makes from his business will help him save enough to buy a piece of land and build his own house. His dream is to become stable in his business and educate his children.
Previous Loan DetailsNicholas is 27 years old. He is married and blessed with a two year-old child. He sells utensils, a business he started six years ago. His monthly income is KES.15,000. He wants to purchase cups, plates, sufurias and water jugs for sale, and therefore has requested a loan of KES.30,000. The ... More from Nicholus'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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Success!! The loan was 100% repaid