Update on CyrusCyrus has successfully paid back his previous loan, and his clothing and bags business is doing well. He managed to expand his stall and restock both the clothing and handbags section.
He has acquired a second loan of KES. 80,000 which will facilitate further expansion of his business by restocking his inventory of used clothing and handbags. This inventory will also be used to setup similar stalls in Narok town.
He hopes to use the increased profits to purchase a motorcycle which will ease the transportation of his wares. He hopes to grow his business to a large clothing outlet, and to become a landlord as opposed to being a tenant.
Previous Loan DetailsCyrus is a single gentleman, 27 years old. He sells second-hand clothing and bags in Narok town. He has been running this business for five years and earns a monthly income of 25,000 KES. He has borrowed a first loan of 50,000 KES from KADET LTD, which he intends to use to transport clothing a... More from Cyrus'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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Success!! The loan was 100% repaid