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Richard

Update on Richard

Richard is 30 years old and lives happily with his family. Apart from the retail shop he owns, he also supplies fresh milk from his farm to his customers. He has been in this business for a period of five years and earns an income of KES 30,000.

Richard has applied for a third loan of KES 50,000 from KADET LTD. He wishes to use this loan to purchase a dairy cow and feed.

The anticipated revenues from the sale of milk will be used to pay the school fees for his children and improve the living standards of his family. His dream is to see his family live a better life.

Previous Loan Details

Richard is 28 years old and is married with two children. His spouse is Sally who buys and sells vegetables in the nearby market, thus adding income to the family. Richard owns a retail shop, which has been in operation for a period of one year, earning a monthly income of KES 12,000. Richard ... More from Richard's previous loan »

Additional Information

About VisionFund Kenya

VisionFund 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.

About Kenya

  • $1,800
    Average annual income
  • 866
    View loans »
    Kenya Loans Fundraising
  • $42,991,025
    Funds lent in using Kiva
  • 84.9
    Kenya Shillings (KES) = $1 USD

Success!! The loan was 100% repaid

A loan of $600 helped Richard to purchase a dairy cow and animal feed.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Mar 25, 2013
Listed
Apr 8, 2013
Currency Exchange Loss:
Possible
Ended:
Apr 16, 2014