Update on DavidDavid used his previous loan amount to buy fertilizer and pesticides. It was profitable, and he was able to pay off the loan amount.
Besides farming, he also works as an agent and offers money transfer services, where clients can send and withdraw money. He also sells phones and phone accessories.
This being his fourth loan, he plans to use the amount to add business float (electronic credits to sell) to his money transfer business(M-pesa). With the anticipated profits, he will buy more phones and phone accessories to sell.
David hopes to grow his money transfer business by opening more of them in different places.
Previous Loan DetailsFor the last 12 years David has been practicing farming in the Ngondi area, Naivasha town. He is 36 years old, married to Mary, and they have five school-going children. He was introduced to KADET LTD by his friend and this will be his third loan. He repaid his previous loan of KES 45,000 in f... More from David'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