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Simon

Update on Simon

Simon runs a general shop in Tala, where he sells flour, sugar, cooking fat, and hair pieces, among other items. His customers come from Tala and its surroundings. He has been running this business for five years, and he makes a monthly profit of 15,000 KES. Simon was introduced to KADET LTD by the credit officer in charge of the Tala office.

Simon has applied for a loan of 100,000 KES, to increase his stocks of sugar, cooking fat, maize flour and wheat flour. Simon plans to use the anticipated profits to expand his shop to wholesale.

Simon describes himself as hard-working, and he dreams of having a wholesale shop in the future.

Previous Loan Details

Simon M., aged 25, is a single businessman. He runs a general shop in Tala where he sells flour, sugar, cooking fat, and hair pieces among other items. His customers come from Tala and its surroundings. He has been running this business for three years and makes a monthly profit of Kshs 15,000. ... More from Simon's previous loan »

Additional Information

About VisionFund Kenya

VisionFund 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.

About Kenya

  • $1,800
    Average annual income
  • 859
    View loans »
    Kenya Loans Fundraising
  • $42,924,225
    Funds lent in using Kiva
  • 85.3
    Kenya Shillings (KES) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,175 helped Simon to buy stocks of sugar, cooking fat, maize flour and wheat flour.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Oct 12, 2012
Listed
Oct 26, 2012
Currency Exchange Loss:
Possible
Ended:
Sep 17, 2013
This photo was used before for a previous loan for Simon. It was first posted on Kiva on Dec, 2010. Learn More