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Francis

Update on Francis

Francis runs a butcher shop and also operates a pub. He had previously acquired a loan of 40,000 KES from Faulu Kenya, which helped him to buy a bull for slaughter. Francis now needs a loan of 80,000 KES to buy a bull for slaughter, crates of beer and a fridge. He dreams of expanding his business in the future.

Previous Loan Details

Francis is a 43-year-old businessman who runs a butchery. He has been in the business for eight years. He has employed two people to assist him in the business. Since he joined Faulu Kenya, his business has really improved because of his previous loans. Francis hopes to become the major suppl... More from Francis'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
  • 653
    View loans »
    Kenya Loans Fundraising
  • $39,303,725
    Funds lent in using Kiva
  • 84.3
    Kenya Shillings (KES) = $1 USD
Expired
A loan of $950 helped Francis to buy a bull for slaughter, crates of beer and a fridge.
Repayment Term
15 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jul 16, 2012
Listed
Jul 28, 2012
Currency Exchange Loss:
Possible
Expired:
Aug 27, 2012