Update on MorrisMorris is 62 years old, married, and has three children. He used his previous loan to rent business premises and add a stock of clothes. His business did very well, and he repaid his loan. He sells second-hand goods and is also involved in dairy farming. He has been in business for 22 years. Faulu Kenya has enabled him learn how to save. He describes his business as very good and his customers as loyal. He is very hard-working and responsible.
He hopes to open another outlet for second hand goods and to increase his profits in the future. He has requested a loan of 63,585 KES to buy a cow.
Previous Loan DetailsMorris is 60 years old, married and a father of five. He has only one child who is still in school. He sells second-hand clothes and household items such as seats, gas cookers and fridges. He has been engaged in this business for over 10 years and has two employees. He is a member of the… More from Morris'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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