Update on PiusPius, now 51 years old, used his previous loan amount to buy more stock of goods to sell in his retail shop. These goods included cooking fat, sugar, flour, and tea leaves, among other items. It was profitable and he was able to pay back the loan amount.
Besides the retail shop, he also has a butchery business. He sells meat and also supplies meat to several hotels and restaurants in town.
This is his fifth loan from KADET LTD, and he plans to use the amount to buy more stock of meat for selling. He anticipates that he will generate more income, since the demand for meat is high. He will use the generated profits to pay school fees for his children.
Pius hopes to open another butchery shop as well as expand his retail shop to a wholesale shop. This would make him more income and allow him to provide for the needs of his family.
Previous Loan DetailsPius has been running a retail shop for 14 years in Ngalaiya Tala and he earns an income of KES 10,000 per month. He is 48 years old, married to Muthiani, and they do not have children yet. Pius has never borrowed from any other MFI and has good credit history with KADET LTD. This is his fourt... More from Pius'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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