Update on KelvinKelvin is 22 years of age. He owns a retail shop. He used his previous loan to buy soda, baking flour, and cooking fat. His business did very well and he successfully repaid his loan. He has been in business for three years.
He describes his business as very busy and he faces lots of competition from other shops. Faulu Kenya has helped him buy furniture and he has also improved his living standards. He hopes to own a wholesale shop.
Kelvin requires a loan of 53,156 KES to buy a computer and a printer.
Previous Loan DetailsKelvin is 21 years old and single. He started his retail shop with a small amount of capital. Now, almost two years since he started the business, he gets enough profit to sustain himself. Being a member of Faulu Kenya, he has hopes for his business because he can easily access business loans.... More from Kelvin'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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