Update on PaulPaul is from Nakuru and has a spices business. He used his previous loan amount to buy more stock of spices to sell and it was very profitable.
He has applied for his third loan from KADET LTD to buy more fruit for sale and also pay school fees for his children. This current loan has been applied as a rider loan with the previous loan as it is to be used to cater more for his children's school fees. With the anticipated profit, he hopes to buy a cow.
He hopes to open a grocery in the near future and educate his children.
Previous Loan DetailsPaul used his previous loan amount to buy more stock of spices to sell in his business, and it was very profitable. This enabled him to provide for the needs of his family as well as to pay school fees for his children. This is his second loan term from KADET LTD, and he plans to use the loan… More from Paul'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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