Update on Sountongnoma GroupG. Ivonne is the representative of the SOUNTONGNOMA group. She is doing well. She is married and the mother of seven children. Her oldest child is 35 years old, the youngest is 12. Two of her children are in school, and she supports six additional persons.
She has been selling "pagnes" (colorful West-African fabrics) for the past 16 years. She buys her merchandise at the District 10 market and sells to both men and women.
She wants to buy 22 pagnes, each measuring 3 x 1 meters.
She wants to save her profits in order to boost her business. She would like to expand her activity and help her husband cover the family's expenses.
Mme vend des pagnes depuis 16ans. Elle s’approvisionne au marché de secteur 10. Ses clients sont les femmes et hommes.
Elle veut s’acheter 22complets de pagnes.
Mme veut épargner ses bénéfices afin de renforcer son activité. Elle souhaite agrandir son champ d’activité et aider son époux dans les charges de la famille.
Previous Loan DetailsG. Ivone is the representative of the Sountongnoma group. She is married and the mother of 7 children, the eldest of whom is 35 and the youngest, 12. Two of her children go to school and she is responsible for 2 people. She has been selling pagnes (highly colourful and decorative West African clo... More from Sountongnoma Group's previous loan »
About Micro Start/AFDThis loan is administered by Micro Start/AFD, Kiva’s first Field Partner in Burkina Faso. Micro Start/AFD’s mission is to improve families' living conditions in general, and those of women in particular, by facilitating access to financial and non-financial services.
Micro Start/AFD is a professional microfinance institution offering financial services, advice, and training. One of the organization’s principal aims is to collect obligatory and voluntary savings that foster clients’ financial independence. Micro Start/AFD also focuses on building female entrepreneurs’ skills in management and business administration and improving the living conditions in its clients’ communities. More information can be found on Micro Start’s Kiva Field Partner Page.
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.
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.
About Burkina Faso
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Success!! The loan was 100% repaid
- Repayment Term
- 6 months (Additional Information)
- Repayment Schedule
- Jun 5, 2013
- Jul 1, 2013
- Currency Exchange Loss:
- Nov 17, 2013
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.