Update on PeterPeter used his previous loan to buy rice, green grams (mung beans), etc., to add to the stock in his grocery business. His business did much better after that investment, and he was able to gain new customers and meet their demands.
Peter has now applied for another loan, this one to enable him to diversify into farming, which is his secondary business. He wants to buy fertilizers and seedlings to enable him to do some planting.
He hopes to see his business expand in the near future.
Previous Loan DetailsPeter has practiced farming in Ndunyu Njeru town for the last 24 years. He is 42 years old, married to Sara, and they have five school-going children. He was introduced to KADET by one of our field officers and this will be his first loan. He plans to use the loan amount to buy more stock ... 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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