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Silvester

Update on Silvester

Silvester used his previous loan to buy maize flour, sugar and cooking fat. His business improved.

His desire is to expand his business into wholesale in the future. He dreams of buying a vehicle in five years.

Silvester has requested 110,000 KES to buy cereals, maize flour, sugar, rice and cooking fat.

Previous Loan Details

Silvester owns a retail shop. He had a previous job before he went into this business. Thanks to Faulu Kenya's financial support, he has expanded the shop by adding shelves on one side and stock. This has led to increased sales. He is hardworking and committed to succeeding in his business. He has… More from Silvester's previous loan »

Additional Information

About Faulu Kenya

Faulu Kenya aims to empower Kenyans by providing relevant financial solutions. Faulu is a sustainable and profitable microfinance institution that offers savings and credit services to over 225,000 Kenyans. Faulu recently became the first MFI in Kenya to be licensed as a Deposit-Taking Micro-Finance Company, which will enable Faulu to better serve its clients.

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
  • 473
    View loans »
    Kenya Loans Fundraising
  • $38,222,800
    Funds lent in using Kiva
  • 96.5
    Kenya Shillings (KES) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,150 helped Silvester to buy cereals, maize flour, sugar, rice and cooking fat.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Nov 3, 2011
Listed
Nov 9, 2011
Currency Exchange Loss:
Possible
Ended:
Jan 17, 2013