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Gomiti

Update on Gomiti

Gomiti used his previous loan from Faulu Kenya to renovate his classrooms. He has managed to admit more pupils in the school, and he currently employs 15 teachers.

He has requested a loan of 70,000 Kes to construct a kitchen and buy kitchen appliances. He also want to use the loan to buy beds, because he wants to provide boarding facilities.

Previous Loan Details

Gomiti is a hardworking and visionary, 26-year-old businessman. He is married and blessed with two children aged 3 years and 8 months. To make a living he has been running a school. He wants, in the next 5 years, to have expanded his institution and opened up another school. His dream is to see h... More from Gomiti'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
  • 983
    View loans »
    Kenya Loans Fundraising
  • $43,091,150
    Funds lent in using Kiva
  • 84.8
    Kenya Shillings (KES) = $1 USD

Success!! The loan was 100% repaid

A loan of $850 helped Gomiti to construct a kitchen and buy beds for his school.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Sep 20, 2012
Listed
Sep 30, 2012
Currency Exchange Loss:
Possible
Ended:
Jul 4, 2013
This photo was used before for a previous loan for Gomiti. It was first posted on Kiva on Aug, 2011. Learn More