Update on RechoRachael is 39 years old and living happily with her five children. From the growth of her cereals business, Rachael bought a second-hand motorbike which she uses for her transportation business, which has been operating for one year. She is getting a monthly income of KES 8,000.
With this second loan of KES 50,000 from KADET LTD, she intends to purchase eight bags of dry maize for her cereals business and purchase spare parts to repair her motorbike.
The profits she earns will be used to repay the loan and plough back into her businesses. She hopes to own a grinding machine and educate her children.
Previous Loan DetailsRecho is 38 years old and married with five children. She has been in the cereal business for the last eight years, earning approximately 20,000 KES monthly. This loan of 20,000 KES is her first loan from KADET LTD, and she plans to use it to purchase six bags of dry beans for resale. Recho… More from Recho'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