Update on IreneIrene is a young 40 year old woman who has already benefitted from several loans in order to purchase bulk quantities of merchandise to sell. She profited from these loans and reimbursed her previous loans without difficulty and was even able to save some money. She greatly increased her sales, with profits that increased from 25,000 francs to 100,000 francs a day [approximately 26 USD to 110 USD]. She is asking for a fourth loan in order to continue with her activity and purchase bulk quantities of quality cloth in cotton piqué, flowered prints, wool and cloth to make male suits. She hopes to open her own boutique in the future, and continues to save for this goal.
Pour son quatrième cycle de prêt, elle persévère dans la même activité en renforçant le stock des tissus de qualité en coton pique, des tissus fleuris,des tissus en laine vierge, des tissus des costumes pour hommes.
Elle a pour ambition d'ouvrir une boutique dans l'avenir, c'est pour cela qu'elle continue a épargner.
Previous Loan DetailsThis young woman is 39 years old. She has received a first loan to strengthen her working capital and replenish her stocks of fabrics. She claims to have been successful in the course of her activity, having fully repaid the loan and accumulated substantial savings. And now, having learned about… More from Irene's previous loan »
More information about this loan
About HOPE Congo S.A.: HOPE Congo S.A. is a start-up microfinance institution located in Brazzaville, Republic of the Congo. As of 2009, the Republic of the Congo was the 136th-ranked country in the United Nations Development Programme’s Human Development Index. The average life expectancy is in the low 50s and food insecurity poses a constant threat to ordinary people’s well-being. Through the creation of community banks, HOPE Congo provides credit, savings, and training for entrepreneurs in Brazzaville. With their services, they aim to nourish a culture of saving and an independent community of responsible and self-sustaining entrepreneurs.
Please note that this Field Partner does not meet all of the minimum criteria for partnership with Kiva. HOPE Congo is a start-up MFI that is being fully backed by the HOPE International with an institutional guarantee. Because Kiva lenders are fully protected against institutional failure by the guarantee agreement, Kiva felt it was appropriate to override our minimum criteria in order to access this new market.
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 Congo (Rep.)
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Success!! The loan was 100% repaid