Update on PeterPeter is 43 years old and married. He buys tea leaves from the local suppliers and sells them to the main tea factory, which he has been doing for five years. He earns a monthly income of 10,000 KES.
Peter is requesting his third loan from KADET LTD for 60,000 KES LTD, which he will use to purchase more stock of tea leaves from farmers and increase the number of bags he sells. The increased profit will be used to repay the loan as well as for his family's welfare. His dream is to improve his business and be financially stable.
Previous Loan DetailsPeter is 42 years old and married to Elizabeth. They have four children aged 14,12, 9 and 2. Peter buys tea leaves from the local suppliers and sells them to the main tea factory. He has been in operation for a period of four years earning a monthly income of KES.10,000. He wishes to borrow… 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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