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George

Update on George

George has made a living for the last nine years by selling bananas. He is applying for his second loan, for 50,000 Kenyan shillings, to buy more bananas to sell to his customers. He repaid his first loan, which was for 30,000 Kenyan shillings, fully and on time, and has succeeded in growing his business to the point where he now has three employees.

Previous Loan Details

George is 26 years old and married. He has a 2-year old child. He has been selling bananas for eight years. He was previously employed and decided to do this business because his income was not enough to support the family. He has been an active member of Faulu Kenya. He has managed to servi... More from George'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
  • 934
    View loans »
    Kenya Loans Fundraising
  • $41,750,050
    Funds lent in using Kiva
  • 99.8
    Kenya Shillings (KES) = $1 USD

Success!! The loan was 100% repaid

A loan of $525 helped George to buy more bananas to sell to his customers.
100% repaid
Repayment Term
15 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Oct 21, 2011
Listed
Nov 4, 2011
Currency Exchange Loss:
Possible
Ended:
Oct 22, 2012