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Mcdonald

Update on Mcdonald

Macdonald used his previous loan from Faulu Kenya to buy a goat which he sold and made a good profit. With the additional income, he was able to vaccinate his livestock. He has requested for another loan of 30, 000 KES to buy a goat and a cow.

Previous Loan Details

McDonald is 39 years old and married with four children. He is a businessman and sells goats. He has been in business for 2 years. His other source of income is from is farming activities. Since he joined Faulu Kenya he has been able to educate his children. He hopes to expand his business in the... More from Mcdonald'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
  • 1032
    View loans »
    Kenya Loans Fundraising
  • $40,867,100
    Funds lent in using Kiva
  • 84.7
    Kenya Shillings (KES) = $1 USD

Success!! The loan was 100% repaid

A loan of $375 helped Mcdonald to buy a goat and a cow.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Oct 2, 2012
Listed
Oct 13, 2012
Currency Exchange Loss:
Possible
Ended:
Dec 3, 2013
This photo was used before for a previous loan for Mcdonald. It was first posted on Kiva on Jan, 2012. Learn More