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Frank

Update on Frank

Frank is now 25 years old, married and has one child. He used his previous loan to buy fruits for his store. His fruit business did well and he successfully repaid his loan. He has been selling fruits for the past ten years and is very hardworking. From the time he joined Faulu Kenya, he has learnt how to manage his business properly.

He hopes to get employed in the future and also and have his own premises of selling fruits. He needs a loan of 105,300 KES to buy fruits for his store.

Previous Loan Details

Frank is 24 years old and married. He runs a grocery store which mainly sells fruit. He started the business in 2002. His business environment is very busy, hence he gets many customers. He has benefited from the trainings conducted by Faulu Kenya on business management. This has helped him to im... More from Frank'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
  • 832
    View loans »
    Kenya Loans Fundraising
  • $42,925,925
    Funds lent in using Kiva
  • 86.1
    Kenya Shillings (KES) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,225 helped Frank to buy fruit for his store.
100% repaid
Repayment Term
15 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Nov 16, 2012
Listed
Dec 10, 2012
Currency Exchange Loss:
Possible
Ended:
Dec 19, 2013
This photo was used before for a previous loan for Frank. It was first posted on Kiva on Nov, 2011. Learn More