Update on SimonSimon is still in the business of selling vehicle spare parts. He has been doing this business for the last seven years and the business is doing well. This marks his third loan from KADET LTD after he successfully cleared his previous loans.
Owing to the financial boost he received from KADET LTD, his monthly income has risen to 25,000 KES, which he uses to support his family.
He plans to use the loan to purchase vehicle spare parts to expand his business. His hopes and dreams are to have a well-established business.
Previous Loan DetailsSimon is an enterprising 48 year-old businessman. He is married to Mary, who is a businesswoman. They are blessed with two children, aged ten and eight years, respectively. He has been selling vehicle spare parts for the past six years, with the monthly income of KES 15,000 which he uses to… More from Simon'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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