Update on CornelCornel is 43 years old, married and has three children. She operates a beauty salon. She has been in business for the past ten years. She used her previous loan to add a student classroom. Her business did well and she successfully repaid her loan. She is very hardworking and determined. Since she joined Faulu Kenya, her business has grown tremendously and she has bought salon equipment.
She hopes to grow her profit margins and educate her children up to the university level. She requires a loan of 30,213 KES to pay school fees.
Previous Loan DetailsCornel is a hairdresser who had previously requested a loan of 50,000 KES which she used to buy a blow drier and hair drier. This helped her to serve her customers more conveniently. She grew her clientele because of her good services. With the additional profits from her business, she ope... More from Cornel'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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