Update on WinnieWinnie operates a beauty salon in a competitive environment to earn a living. She had previously acquired a loan from Faulu Kenya that helped her to buy hair braids and hair chemicals for her business. This helped her business to improve, and she used the additional income to support her family.
Winnie dreams of expanding her business in the future. She has requested a loan of KES 60,000 to buy hair braids and hair chemicals for her salon.
Previous Loan DetailsWinnie is married and blessed with one child who is in school. For the past four years, she has been running a beauty salon to bring up her family. She is also an employer. Winnie has employed two people to assist her in the business. Her potential customers are the local residents. She is… More from Winnie'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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Success!! The loan was 100% repaid