Update on ObadiahObadiah used his previous loan to buy meat for his butcher shop. He also used part of the loan to buy charcoal to sell, and it has been profitable.
This is his third loan with KADET LTD, and he plans to use it to buy more meat and charcoal for his businesses, so he can meet customer demand.
He hopes to expand his business by opening another butcher shop. This will enable him to make more income and provide for the needs of his family.
Previous Loan DetailsObadiah is 28 years old, married and has one child, age 4. He has run a butcher shop and charcoal business for one year and earns a monthly income of KES 10,000.The loan will be used to purchase more meat and charcoal to sell. The anticipated profits will be used to diversify his business.This… More from Obadiah'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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