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Samuel

Update on Samuel

Samuel is 52 years old. He is married and has 4 children. He runs a grocery store to earn a living. He has been in the business for 20 years and has employed one person. He does pea farming to earn extra income. Since he joined Faulu Kenya, he has been able to improve his living standards and hopes to expand his business in the future. He has applied for 100,000 Kenya Shillings to buy tomatoes, bananas, oranges, mangoes, potatoes and onions to sell.

Previous Loan Details

Samuel, a 50 year-old father of four, has requested a loan of Kes. 70,000 to purchase products including pawpaws, pineapples, watermelons, potatoes, onions, carrots, bananas, oranges, pumpkins, green peas, and cabbages. He operates a grocery store in a good location in Nairobi with a steady flow ... More from Samuel'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
  • 924
    View loans »
    Kenya Loans Fundraising
  • $41,750,050
    Funds lent in using Kiva
  • 82.9
    Kenya Shillings (KES) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,225 helped Samuel to buy tomatoes, bananas, oranges, mangoes, potatoes and onions to sell.
100% repaid
Repayment Term
15 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Feb 14, 2012
Listed
Mar 6, 2012
Currency Exchange Loss:
Possible
Ended:
Mar 15, 2013