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George

Update on George

George sells fish to earn a living. He previously acquired a loan of 50,000 KES from Faulu Kenya which helped him to add stock of fish to his business. He has also become economically empowered because he has been trained in financial management. He dreams of expanding his business and specializing in fish supplies in the future. He needs a loan of 80,000 KES to add stock of fish.

Previous Loan Details

George is 35 years old and the father of two. He sells fish to earn a living for his family. He has operated the business for 17 years and so far has employed two people to assist him in his tasks. Through Faulu Kenya, he has improved his business with his previous loans. He hopes to have a well-... 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
  • 861
    View loans »
    Kenya Loans Fundraising
  • $42,924,225
    Funds lent in using Kiva
  • 84.2
    Kenya Shillings (KES) = $1 USD

Success!! The loan was 100% repaid

A loan of $975 helped George to add stock of fish.
100% repaid
Repayment Term
24 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jul 7, 2012
Listed
Jul 27, 2012
Currency Exchange Loss:
Possible
Ended:
Jul 17, 2014
This photo was used before for a previous loan for George. It was first posted on Kiva on May, 2011. Learn More