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Grace

Update on Grace

Grace is 34 years old. She used her previous loan to buy fabric. Her business did well and she repaid her loan. She has been in business for five years and makes dresses and school uniforms. She is very hardworking, and since she became a member of Faulu Kenya, she has learned how to save her money and her business has expanded due to the loans offered to her.

She wishes to have a big tailoring shop and to be the main supplier of uniforms to her neighboring institutions. She is requesting a loan of 105,300 KES to buy material, sewing thread and uniforms.

Previous Loan Details

Grace is 32 years old, married and has two children. She has six years of experience operating a tailoring business. She has employed one person to assist her in her tasks. She also relies on her husband for financial support.

Grace is thankful to Faulu Kenya for training her in financial m... More from Grace'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
  • 1017
    View loans »
    Kenya Loans Fundraising
  • $40,893,425
    Funds lent in using Kiva
  • 85.3
    Kenya Shillings (KES) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,250 helped Grace to buy material, sewing thread and uniforms.
100% repaid
Repayment Term
15 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Oct 25, 2012
Listed
Nov 12, 2012
Currency Exchange Loss:
Possible
Ended:
Dec 3, 2013