Update on PeterPeter's business is doing well. He is grateful to KADET LTD and Kiva lenders for the financial support he received which made it possible for him to expand his business. His monthly income has increased to KES 25,000, which he used to support his siblings.
He is applying for his second business loan from KADET LTD. He plans to purchase more watches, belts, radios and sunglasses. He will use the anticipated profits to pay for his siblings' school fees. His hopes and dreams are to own a fully stocked retail shop.
Previous Loan DetailsPeter is 25 years old. A businessman, he is single but supports his parents. He has been a hawker for the past three years with a monthly income of KES 20,000 which he uses for his basic needs. He is applying for his first loan from KADET LTD after being introduced by an existing KADET… More from Peter'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