Update on PeterPeter used his previous loan amount to buy spare parts to repair his motorcycle. This enabled him to keep his motorcycle in good condition and it was profitable so he was able to repay the whole loan amount.
This will be Peter's second loan term and he plans to use the loan to add to his savings so as to buy another motorcycle. This will enable him to expand his business and thereby earn more income with which he will pay the school fees for his children.
Peter hopes to grow his transport business, earn more profits, and buy a plot of land to build rental houses.
Previous Loan DetailsPeter has a motorcycle business in Nakuru town, has been in the business for the past two years, and it has been profitable. He is 45 years old, married to Susan, and they have four children. This will be his first loan and he plans to use the amount to buy spare parts and repair his motorcycle.… More from Peter'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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