Sofiah is a 27-year-old married lady with three children, aged 12, 8 and 2. She has been operating a retail shop for three years, selling foodstuffs and other household items. She is glad to be associated with Faulu Kenya, a Kiva partner, because she is able to access loans and save money on a weekly basis.
She previously took out a loan of 20,000 Kenyan shillings (KES), which she used to improve her business. She was able to pay the loan without any challenge; hence, she has been allowed to take out another loan of 40,000 KES. She will use the loan to purchase sugar, cooking fat, rice and crates of soda. She hopes to expand her shop into a wholesale business in five years.
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.