Update on Jacob WanambisiJacob used his previous loan to to buy more firewood and 10 bags of charcoal, got into the brick-making business, and supplied bricks to people who are building and to developing plots.
Right now, his monthly income from the business is 60000 KES. He is borrowing a loan of 60000 KES, which he intends to use to purchase more stock of firewood.
He will pay his kids' school fees with the anticipated profits from the business.
Previous Loan DetailsJacob Wanambisi W. is a 69-year-old man who is married to Doreen Wanambisi. They have ten children between 10 and 28 years old. They live in Maili Saba Kitale-Kenya. He sells firewood and charcoal. He has been in this business for the past eight years and he is now able make a monthly profit of KES… More from Jacob Wanambisi'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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