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Quinto

Update on Quinto

Quinto is 28 years old and married. He sells vehicle spare parts to earn a living. He has been in this business for one year and has employed one person. Since he joined Faulu Kenya, he has been able to save his income and hopes to expand his business in the future. He has applied for a loan for 70,000 Kenyan shillings (KES) to buy vehicle spare parts for sale.

Previous Loan Details

Quinto is 28 years old and married. He sells motor vehicle spare parts for a living. He has been running the business for just one year. Since he joined Faulu Kenya, he has been empowered economically and has learnt how to save his money. He dreams of expanding his business into selling wholes... More from Quinto'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
  • 701
    View loans »
    Kenya Loans Fundraising
  • $42,247,450
    Funds lent in using Kiva
  • 83.1
    Kenya Shillings (KES) = $1 USD

Success!! The loan was 100% repaid

A loan of $850 helped Quinto to buy vehicle spare parts for sale.
100% repaid
Repayment Term
12 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Feb 7, 2012
Listed
Mar 10, 2012
Currency Exchange Loss:
Possible
Ended:
Nov 16, 2012
This photo was used before for a previous loan for Quinto. It was first posted on Kiva on Dec, 2010. Learn More