Update on VeronicaThis is Veronica. Her previous loan was a big help in her business. She was able to buy fabrics for making clothes for both men and women. She has been in this business for years now, and it keeps on growing.
She would like to apply for another loan, this time for KES 50,000. She will use it to buy two sewing machines, to expand her business. Her profits from business will definitely help her to meet her daily needs and to pay the educational expenses of her children. She looks forward to this financial increase with gladness and thankfulness in her heart.
Previous Loan DetailsVeronica is a married woman with six children, all of whom attend school. She owns a house that has electricity but not piped water. Her greatest monthly expense is food for the family. For the past 15 years, she has operated a tailoring business, selling from her home to neighbors and passers... More from Veronica'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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