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Ann

Update on Ann

Ann is 33 years old, married, and has two children. She used her previous loan to purchase sugar, cooking oil, rice and soda to sell. Her business did well, and she was able to repay her previous loan. She needs a second loan to increase her stock of sugar, rice, flour and cigarettes. She requires a loan of 30,000 KES.

She hopes one day to operate a wholesale shop and be a main supplier to other shops.

Previous Loan Details

Ann is 33 years old and is married with 3 children. She runs a general store to earn a living. She has been in this business for 8 years and has employed one person. Since she joined Faulu Kenya, Ann has been able to improve her living standards and hopes to expand her business in the future.... More from Ann'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
  • 670
    View loans »
    Kenya Loans Fundraising
  • $39,776,825
    Funds lent in using Kiva
  • 85.5
    Kenya Shillings (KES) = $1 USD

Success!! The loan was 100% repaid

A loan of $375 helped Ann to buy sugar, rice, flour and cigarettes to resell in her store.
100% repaid
Repayment Term
15 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Oct 18, 2012
Listed
Nov 16, 2012
Currency Exchange Loss:
Possible
Ended:
Dec 3, 2013