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Manuel

Update on Manuel

Manuel used his previous loan to buy classroom furniture. Now his pupils have a good learning environment. His desire is to construct more classrooms in the future. He has requested a loan of 50,000 KES to buy books and writing materials for the classroom.

Previous Loan Details

Manuel is a member of the Urafiki Makadara group in Faulu Kenya. He is a businessman who sells paraffin and mobile-phone airtime cards. He also runs a nursery school. He says his business location is very good because of the high number of customers. He started the business six years ago and he ... More from Manuel'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
  • 980
    View loans »
    Kenya Loans Fundraising
  • $40,408,475
    Funds lent in using Kiva
  • 85.3
    Kenya Shillings (KES) = $1 USD

Success!! The loan was 100% repaid

A loan of $600 helped Manuel to buy books and writing materials for the classroom.
100% repaid
Repayment Term
15 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Oct 10, 2012
Listed
Oct 18, 2012
Currency Exchange Loss:
Possible
Ended:
Dec 3, 2013