Update on GeorgeGeorge, who is a farmer, used his previous loan of 40,000 KES to buy pigs and pig feed. Through Faulu Kenya, in partnership with Kiva, he has managed to grow the number of pigs in his farm from 15 to 60 pigs. The farming business has brought him more income which has helped him educate his children and provide for the basic needs of his family. Currently, his first-born, a daughter, is pursuing Economics at the university. His second-born is pursuing a course in Pharmacology and the third is in high school. He dreams of educating his children through the university level. George has requested a loan of 105,300 KES to pay school fees for his daughter.
Previous Loan DetailsGeorge is 47 years old, married and has three children aged 21, 20, and 14 who are in school. He has been rearing pigs for two years. He was previously selling cosmetics to earn a living. Through Faulu Kenya, he has learnt how to manage his business. This has helped him to retain his business… More from George'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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