Update on LucyLucy is married and has nine children. She used her previous loan to buy more radios and televisions to sell. Her business did very well, and she repaid her loan successfully. She has been in business for six years and also earns an income from rental houses that she owns.
Faulu Kenya has helped her learn how to save her money.
She hopes to expand her retail shop in the future. She requires a loan of 105,300 KES (Kenyan shillings) to buy second-hand radios and televisions to sell.
Previous Loan DetailsLucy is married and has nine grown-up children. To earn a living, she runs an electronics shop selling mainly televisions, radios and DVD players. She has been in the business for five years, and has employed one person to assist her. Since joining Faulu Kenya, she has managed to grow her… More from Lucy'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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Success!! The loan was 100% repaid