Update on PeterPeter has paid his previous loan due to the good harvest from the last season, as well as his wife's thriving milk business. He has acquired an additional piece of land where he has planted potatoes.
He has applied for a loan of KES. 70,000 which will enable his purchase of fertilizer and pesticides, as well to pay for the increased labor. The weather has been very favorable in the area, and he anticipates a good harvest.
He will use the anticipated proceeds to educate his children. He hopes to better the family's living conditions, as well as grow his venture to large-scale farming.
Previous Loan DetailsPeter is 57 years old, married, and has seven children. He has been a wheat farmer for the past seven years. Peter learned about KADET LTD through a registered client. He applied for his second loan of 36,000 KES with KADET, which he will use to purchase wheat seeds and fertilizers. He hopes to… 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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Success!! The loan was 100% repaid