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Michael

Update on Michael

Michael is a 30-year-old businessman. He has been running his hardware store and practicing mixed crop farming with the support of wife for the past two and half years with a monthly income of KES 10,000, which he uses to support his family.

He is applying for his second loan with KADET LTD after repaying the previous loan successfully. Michael will use the loan to purchase more stock of locks, fasteners, plumbing supplies, pipes etc.

He will reinvest the anticipated profit and expand his business. His hopes and dreams are to improve the living standards of his family, expand his hardware shop, improve land farming and give the best education to his child.

Previous Loan Details

Michael is 29 years old and a businessman. He is married to Sophia who is a mixed crop farmer. They are blessed with two children. For the past two years, Michael has been running a hardware shop as a primary business and a mixed crop farm as a secondary business, with the monthly income of around… More from Michael'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
  • 451
    View loans »
    Kenya Loans Fundraising
  • $38,222,800
    Funds lent in using Kiva
  • 87.5
    Kenya Shillings (KES) = $1 USD

Success!! The loan was 100% repaid

A loan of $350 helped Michael to purchase locks, fasteners, plumbing supplies, pipes .
100% repaid
Repayment Term
8 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jan 8, 2013
Listed
Feb 4, 2013
Currency Exchange Loss:
Possible
Ended:
Aug 17, 2013
This photo was used before for a previous loan for Michael. It was first posted on Kiva on Jul, 2012. Learn More