Update on JosephJoseph is now 35 years old; he is still operating a motorcycle transport business and has been doing this for the past five years with a monthly income of KES 15,000 which he uses to support his family. He also owns a rickshaw which supplements his income. He is still repaying his previous loan.
He will use the loan to purchase a new motorcycle. With the anticipated profits from the business, he will educate his child.
His hopes and dreams are to be financially stable and be able to cater for his family’s needs with ease.
Previous Loan DetailsJoseph has been operating a motorcycle transport business for the past four years, and the business has improved. He is applying for his fourth loan cycle from KADET LTD after repaying the previous loans successfully. Joseph will use the loan to buy spare parts for his motorbike. With the… More from Joseph'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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