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Oscar

Update on Oscar

Oscar has expanded his business and opened up a food cafeteria in Vikwatani, Mombasa, which is his second business for additional income. He is doing great and he has applied for his fourth loan from KADET LTD. He intends to use the loan to buy bales of maize and wheat flour, sugar, and margarine for his shop.

He hopes to create awareness among people who do not yet know about borrowing, encouraging them to join KADET, which he believes will help them grow economically and not depend on handouts.

Previous Loan Details

Oscar is 33 years old, married, and a father of two children. He owns and runs a retail shop in Vikwatani, Mombasa and the business has been in operation for four years. This marks Oscar’s third loan from KADET LTD to finance his business. With the money, he plans to purchase bales of maize and… More from Oscar'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
  • 401
    View loans »
    Kenya Loans Fundraising
  • $38,151,650
    Funds lent in using Kiva
  • 87.8
    Kenya Shillings (KES) = $1 USD

Success!! The loan was 100% repaid

A loan of $575 helped Oscar to buy bales of maize and wheat flour, sugar, and margarine for his shop.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Feb 15, 2013
Listed
Feb 21, 2013
Currency Exchange Loss:
Possible
Ended:
Mar 17, 2014
This photo was used before for a previous loan for Oscar. It was first posted on Kiva on Nov, 2011. Learn More