Update on GraceGrace who is now 33 years old, used her previous loan to buy a motorbike. Her business did very well and she successfully repaid her loan. She has learned how to save money through the help of Faulu Kenya. She is also a tailor and designs dresses, shorts, coats and bed sheets.
She hopes to purchase a car, land and also have a fleet of motor bikes. Grace requires a loan of 84,442.50 to buy fabric.
Previous Loan DetailsGrace is 32 years old, married and has 2 children. She has a motorcycle transport business to earn a living. She has been in the business for 2 years and describes her business environment as favorable because there is limited competition. To earn extra income she does tailoring. Since she… More from Grace'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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