Update on Peter SankalePeter operates a motorcycle transport business and earns a monthly income of KES 15,000. He has been engaged in this business for the past three years. He earns an additional income through farming.
Peter serviced his previous loan successfully and the business is doing very well. He is requesting his third loan in the amount of KES 60,000 from KADET Ltd, which he will use to purchase another motorcycle to expand his business and employ another person to operate the new vehicle. He will use the anticipated profits to pay school fees for his children.
He has a dream of expanding his business by purchasing more motorcycles in the future.
Previous Loan DetailsPeter Ngasahr is 23 years old. He is married to Cynthia. They have one baby, who is three months old. He lives with his family in the Ololchani area in Kilgoris. Peter is a farmer and has been in this business for the past three years. He has seen his business grow after he took out the first… More from Peter Sankale'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