Update on LaurdThis is a 36-year-old client, married with three children whose ages range from 1 to 9 years. He began carpentry 17 years ago when he interrupted his schooling in fifth grade.
Having already been granted three loan cycles from Hope Congo, he made huge profits from the sale of his furniture. He promptly reimbursed the loans and always put aside some savings. These loans have truly changed his financial and economic life.
This new loan will serve to strengthen the stock of supplies he needs to manufacture his furniture, by acquiring products such as rolls of fabric and velvet, boards, plywood, sponges, glue and nails.
His strategy is to manufacture furniture, such as wardrobes, buffets, cabinets, beds, armchairs, he then exhibits prior to sales.
Well known for the quality of work provided, he is currently putting his profits into savings to eventually buy a machine to plane and saw boards, and a wood lathe, to provide his customers with a final well-finished product.
Ayant déjà bénéficié de 3 cycles de prêt a Hope Congo, il a vraiment fait des énormes bénéfices avec la vente de ses meubles.
Il a fait des remboursements effectifs et a toujours épargné et ces différents prêts ont réellement change sa vie financière et économique.
Avec ce nouveau prêt, il va renforcer le stock des fournitures pour fabriquer ses meubles, en achetant les produits comme des rouleaux de tissus e velours, de la planche, des contre plaques, des éponges, de la colle et des pointes.
Sa stratégie est de fabriquer des meubles, comme des gardes linges, des buffets, armoires, des lits, des fauteuils, qu’il expose pour la vente.
Très connu par la qualité de travail fournit, avec ses bénéfices, il est entrain d’économiser pour acheter une machine de rabotage et sciage des planches, une tour a bois pour fournir a ses clients un travail finit et bien fait
Previous Loan DetailsLaurd T. is a professional carpenter. He is 35 years old, married and the father of three children. He began his activity in 1993, without having had the possibility to make long studies. He took out a first loan to bolster his business by purchasing planks, plywood, nails, sandpaper, varnish… More from Laurd'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
- Repayment Term
- 6 months (Additional Information)
- Repayment Schedule
- Nov 8, 2011
- Nov 9, 2011
- Currency Exchange Loss:
- Apr 15, 2012
Photo from previous loan
Kiva allows our Field Partners to re-use the same photo for individual borrowers that have been posted on Kiva's website once before in a 24 month period, and we allow them to re-use group photos for up to 24 months, provided that 80% of the current group's membership is represented.
Taking, collecting, and uploading photos of borrowers is one of the most challenging elements of using Kiva for our Field Partners. In order to make Kiva easier for Field Partners to use, we have allowed them to post successive and concurrent loans without taking a new photo of the borrower if the criteria above are met.