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Solomon

Update on Solomon

Solomon's retail shop is doing very well. He is grateful to Kenya Agency for Development of Enterprise and Technology (KADET) for extending him financial support which has enabled him to stock his shop. His monthly income has increased to KES 19,500, which he uses to support his family.

Solomon is requesting a third business loan to buy more stocks of sugar and washing detergents, in bulk. He will use the proceeds from the business to educate his children.

Previous Loan Details

Solomon is a 53-year-old business man. He is married to Mumbua, who is a mixed crop farmer. They are blessed with three children. He has been running a retail shop for the past five years with the monthly income of KES 15,000, which he uses to support his family. He is applying for his… More from Solomon'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
  • 638
    View loans »
    Kenya Loans Fundraising
  • $39,149,000
    Funds lent in using Kiva
  • 83.9
    Kenya Shillings (KES) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,075 helped Solomon to buy more stocks of sugar and washing detergents, in bulk.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Apr 23, 2013
Listed
May 10, 2013
Currency Exchange Loss:
Possible
Ended:
May 17, 2014