He used to do commerce in clothing at the Bujumbura Central Market. In the fire, he lost all of his capital when he had plans to build a house.
With the KIVA loan he is obtaining, he will rebuild his capital by purchasing clothing to resell, so as to earn his living.
Il a sous sa charge 4 enfants:1 orphelin et 3 enfants membres de sa famille élargie.
Il faisait le commerce des habits au marché central de Bujumbura. Il a perdu tout son capital alors qu’il avait un projet de construction de maison.
Avec le crédit KIVA qu’il obtient, il va reconstituer son capital en achetant des habits à revendre, pour gagner sa vie.
More information about this loan
This borrower was directly impacted by the recent fire at the Bujumbura Central Market in Burundi. Many people lost everything. Accordingly, Turame Community Finance is postposing repayment on existing loans for some of its clients affected by the fire, and is offering them additional capital to relaunch their businesses. Because these clients will be rebuilding from the ground up during a period of economic stress, these loans may carry additional risk.
This is a Group Loan
In a group loan, each member of the group receives an individual loan but is part of a larger group of individuals. The group is there to provide support to the members and to provide a system of peer pressure, but groups may or may not be formally bound by a group guarantee. In cases where there is a group guarantee, members of the group are responsible for paying back the loans of their fellow group members in the case of delinquency or default.
Kiva's Field Partners typically feature one borrower from a group. The loan description, sector, and other attributes for a group loan profile are determined by the featured borrower's loan. The other members of the group are not required to use their loans for the same purpose.
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Success!! The loan was 100% repaid