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Steve

Update on Steve

Steve runs a transport business to earn a living. He had previously acquired a loan from Faulu Kenya which helped him to service his lorry. He dreams of expanding his business and employing more people.

Steve is requesting a loan of 70,000 KES to buy tires and seats for his vehicle.

Previous Loan Details

Steve is 39 years old. He owns a lorry which he uses for his transport business. Being a member of Faulu Kenya, he has benefited because he has been able to access financial resources easily. This has helped him to improve his business. Steve has requested for a loan of 40,000 Kenya shilling... More from Steve'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
  • 675
    View loans »
    Kenya Loans Fundraising
  • $42,246,850
    Funds lent in using Kiva
  • 83.8
    Kenya Shillings (KES) = $1 USD

Success!! The loan was 100% repaid

A loan of $850 helped Steve to buy tires and seats for his vehicle.
100% repaid
Repayment Term
15 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jul 31, 2012
Listed
Aug 20, 2012
Currency Exchange Loss:
Possible
Ended:
Sep 6, 2013
This photo was used before for a previous loan for Steve. It was first posted on Kiva on Dec, 2011. Learn More