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Shadrack

Update on Shadrack

Shadrack is now 32 years old and he is requesting a fourth loan to purchase a third motorcycle. He will use the anticipated profit to start up a greengrocery business for his wife. His previous loans were paid successfully. He hopes to prosper in his family life.

Previous Loan Details

Shadrack, a 31-year-old married boda boda (motorcycle) operator in Shanzu, Mombasa, has been ferrying people with his motorcycle for the past two years. This will mark his third business loan from KADET LTD, which he will use to purchase an additional motorcycle. Shadrack, who hopes to have a mor... More from Shadrack's previous loan »

Additional Information

About VisionFund Kenya

VisionFund 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.

About Kenya

  • $1,800
    Average annual income
  • 897
    View loans »
    Kenya Loans Fundraising
  • $42,902,475
    Funds lent in using Kiva
  • 86.7
    Kenya Shillings (KES) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,050 helped Shadrack to purchase an additional motorcycle.
100% repaid
Repayment Term
11 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jan 10, 2013
Listed
Jan 14, 2013
Currency Exchange Loss:
Possible
Ended:
Oct 17, 2013
This photo was used before for a previous loan for Shadrack. It was first posted on Kiva on Jan, 2012. Learn More