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Nicholas

Update on Nicholas

Nicholas is 31 years old, married, and has two children. He used his previous loan to buy maize flour, sugar and salt. His business did well and he successfully repaid his loan. He owns a general shop and has been in business for the past five years. He is very hard-working. Since he joined Faulu Kenya he has learnt how to save his money for future purposes.

Someday he hopes to own a wholesale shop. He requests a loan of 74,013.75 KES to buy maize flour, sugar, salt, wheat flour and fish.

Previous Loan Details

Nicholas is 30 years old and married with two children. For two years he has been operating a retail shop to earn a living. He has managed to employ two people in his business. He runs his business in a very competitive environment but he is still able to retain his customers. Nicholas hopes to e... More from Nicholas'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
  • 728
    View loans »
    Kenya Loans Fundraising
  • $39,776,375
    Funds lent in using Kiva
  • 86.4
    Kenya Shillings (KES) = $1 USD

Success!! The loan was 100% repaid

A loan of $875 helped Nicholas to buy maize flour, sugar and salt, wheat flour and fish.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Dec 18, 2012
Listed
Jan 8, 2013
Currency Exchange Loss:
Possible
Ended:
Dec 19, 2013
This photo was used before for a previous loan for Nicholas. It was first posted on Kiva on Aug, 2011. Learn More