Update on Francois HerveThis borrower is 36 years old, single, and the father of one 11-year-old child. He started selling phone cards and calls after getting his high school diploma in 2007.
He already benefited from one loan, which enabled him to expand his business. His profits increased greatly, and made a big impact on his buying capacity. He managed to put money away effortlessly, and he takes good care of his son's schooling expenses.
With this second loan, he will continue in the same direction, bolster his stock of cards, and get a subscription plan with another national operator. He's also thinking about getting an Internet connexion and computers with modems, in order to satisfy the desires of his customers.
In the future, he wants to increase his savings to reach his goal of becoming a wholesaler in addition to his current business.
Client de 36 ans; celibataire et père d'un enfant age de 11 ans, il se lance dans la vente des cartes de recharges et des appels telephoniques apres son bac en 2007.
Il a deja bénéficié d'un prêt qui lui a permit d'agrandir son commerce, ses benefices ont largement augmentes et sa capacité d'achat a connu un impact considérable, il a épargné sans difficultés et s'occupe valablement de la scolarité de son fils.
Avec le second prêt, il va continuer dans le meme sens, renforcer le stock des cartes , s'abonner sur une autre ligne nationale il pense aussi a établir un abonnement internet pour satisfaire les désirs de ses clients en achetant un ordinateur avec Modem.
A la l'avenir , il continue a faire des épargnes pour atteindre son objectif et en meme temps être grossiste.
Previous Loan DetailsThis client is 36 years old, single and the father of an 11 year old child. With no motivation to continue his university studies, he began selling reload and phone cards in 2007. His daily sales figures are quite high: on average he sells 50,000 - 70,000 CFA francs per day. With the loan, he… More from Francois Herve'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
- Jan 26, 2012
- Feb 3, 2012
- Currency Exchange Loss:
- Jun 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.