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Morris

Update on Morris

Morris is 37 years old, married and a father of five children. For the last 13 years, he has earned a living by operating a general store in Malindi. He earns a monthly income of KES 23,600 from the business and his business is doing well.

He is applying for his third loan of KES 80,000 to buy additional stock for his general store such as soft drinks, stationery, cooking oil and wheat flour to sell to his customers. He will use the profits made possible by this loan to pay for his children's school fees as well as expand the business.

His goal for the future is to continue growing the business so that he may uplift his family's financial stability.

Previous Loan Details

Morris is 36 years old, married and a father of four children. For the last twelve years, he has earned a living by selling goods from his retail shop. He earns a monthly profit of KES 15,000. He was introduced to KADET LTD by a credit officer, and is applying for his first loan of KES 40,000... More from Morris'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
  • 1013
    View loans »
    Kenya Loans Fundraising
  • $43,148,500
    Funds lent in using Kiva
  • 87.7
    Kenya Shillings (KES) = $1 USD

Success!! The loan was 100% repaid

A loan of $925 helped Morris to buy additional stock such as soft drinks, cooking oil and stationery for sale.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Feb 20, 2013
Listed
Feb 24, 2013
Currency Exchange Loss:
Possible
Ended:
Mar 17, 2014
This photo was used before for a previous loan for Morris. It was first posted on Kiva on Aug, 2012. Learn More