Update on PatrickPatrick is taking out a new loan to expand his fish-selling business. With it he will buy a stock of fish and a refrigerator, the latter of which will allow him to stock more fish for longer periods and hence increase his sales. Thanks to the loans he is getting from Yehu and Kiva, Patrick has been able to make home improvements. He says that the previous loan enabled him to expand his house and provide a better quality life to his family.
Previous Loan DetailsPatrick is taking out another Kiva loan, this loan is in the amount of KES 40,000. He will use this loan to purchase bricks and cement to be used to expand his house. With the previous loan, he purchased cereals and also added fish for sale in his shop. Since the previous loan, Patrick has been a... More from Patrick's previous loan »
About Yehu Microfinance TrustThis loan is administered by Yehu Microfinance Trust, which was founded in 1998 as a project of CHOICE Humanitarian Kenya. In July 2007, Yehu became a separate entity from CHOICE and was registered as a trust. Since then, Yehu has expanded to cover over half of Kenya’s 13 coastal districts.
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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