Update on MaryMary is a 38-year-old lady who is married and has three children. She has been in business for the past seven years. She used her previous loan to add stock of medicine. Her business did very well and she repaid her loan. Mary is an ambitious lady and hopes for excellence in the future. Faulu Kenya has helped her save for future purposes.
Someday Mary hopes to open a wholesale shop. She now requires a loan of 63,585 KES to add stock of natural medicine.
Previous Loan DetailsMary is 37 years old, married and has two children in school. To earn a living, she sells natural medicine and health products. She has been in the business for four years and has employed one person. Even though she runs her business in a very competitive environment, she has retained her… More from Mary'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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