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Komlan

Update on Komlan

Komlan is a 36-year-old man. He is a father and married to a retailer. A carpenter by trade, he has worked with wood since 2005 in his workshop. Komlan is requesting his fifth loan from WAGES with the goal of buying planks of wood for making chairs and armoires. He hopes to reinvest his extra profit in the launch of a new business. He would like to be a great professional in the field of woodworking and to establish a carpentry school.
View original language description ↓
Komlan est un homme âgé de 36 ans. Marié à une revendeuse, il est aussi père de famille. Menuisier de profession, il travaille le bois depuis 2005 dans son atelier. Komlan sollicite un cinquiéme prêt chez WAGES afin d’acheter des planches pour la fabrication de fauteuils et d’armoires. Il souhaite réinjecter les profits supplémentaires dans la création d’une autre entreprise. A terme, il aimerait devenir un grand professionnel dans le domaine du bois et créer une école de formation en menuiserie.

Previous Loan Details

Komlan is a 35-year-old man. Married to a retailer, he is also the father of seven children. A carpenter by trade, he has been working with wood from his home since 2005. Komlan is seeking his fourth loan from WAGES in order to purchase planks for the construction of chairs and cupboards. H... More from Komlan's previous loan »

Additional Information

About Women and Associations for Gain both Economic and Social

This loan is administered by Women and Associations for Gain both Economic and Social (WAGES), Togo’s second-largest microfinance institution. Along with a wide range of savings and loan products, WAGES offers its clients training programs in basic literacy, health care (HIV/AIDS and malaria), and business-related subjects (business management, marketing, accounting). You can show your support for WAGES by joining its lending team!

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 Togo

  • $1,700
    Average annual income
  • 2
    View loans »
    Togo Loans Fundraising
  • $8,707,225
    Funds lent in using Kiva
  • 510.0
    Communauté Financière Africaine Francs BCEAO (XOF) = $1 USD

Success!! The loan was 100% repaid

A loan of $800 helped Komlan to purchase planks for the construction of furniture and cupboards.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
May 15, 2013
Listed
May 26, 2013
Currency Exchange Loss:
Possible
Ended:
May 17, 2014