Update on ErickEric is 24 years old. He continues to run his phone accessory shop, which has now been in operation for three years, and his income has increased to KES 14,000 monthly.
Eric is requesting his second loan, of KES 70,000, from KADET LTD, after having repaid the previous one successfully. He intends to use the loan proceeds to purchase more phone accessories to sell in his shop.
The profits he earns will be used to purchase a plot of land and develop it. He hopes to prosper in business and have a happy family.
Previous Loan DetailsErick is a young man who is 23 years old. He operates a phone accessory shop, he has been in the business for a period of two years, earning a monthly income of KES 6,000. He has borrowed a loan of KES 20,000 from KADET LTD as his first loan and hopes to use the money to purchase more phone… More from Erick'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