Update on FrancisFrancis is 26 years old and married with one child. He has been selling fish for four years to earn a living. He has employed two people to assist him in the business.
Francis has grown his business through the financial support of Faulu Kenya. He used his previous loan to buy more fish. This enabled him to increase his sales and profits, which brought him additional income.
Francis hopes to grow his business into a wholesale business in the future. He has requested another loan of 50,000 KES to buy fish.
Previous Loan DetailsFrancis is a determined businessman aged 25. He is married and blessed with one child. For the last three years, he has been selling fish to make a living. He has grown his business with his previous loans from Faulu Kenya. In the next five years, he wants to become the supplier of fish in his… More from Francis's previous loan »
About Faulu KenyaFaulu 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.
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