Update on Miringu MainaMiringu is applying for his third loan from KADET LTD after successfully paying back the previous loans.
He is happy that his business did better after the previous loan as he was able to get a good harvest when the planting season was over. Mirungi wants to use the loan to buy some fertilizers and seedlings.
He hopes to see his business expand in the near future and be able to employ workers to help on his farm.
Previous Loan DetailsMiringu, 59 years old, married to Hannah Wanjiru and the father of one child, has practised farming in the town of Ndunyu Njeru for the last 30 years. He was introduced to KADET LTD by one of our field officers, and this will be his second loan, his first one having been repaid well and in good… More from Miringu Maina'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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