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Sitou

Update on Sitou

Tèle Sitou's work consists of changing money at the Lome market. However, due to local inflation, it is becoming increasingly difficult to do her job. In order to guarantee the durability of her work and help her family, she needs funds intended to respond to her customers' growing needs. This loan that she requests from WAGES is already her fifth loan and would help her work considerably.
Le travail de Tèle Sitou consiste à échanger des devises sur le marché de Lomé. Toutefois, en raison de l’inflation locale, elle éprouve de plus en plus de difficultés à exercer son métier. Afin d’assurer la pérennité de son activité et aider sa famille, elle a besoin de fonds destinés à répondre aux besoins croissants de ses clients. Le prêt qu’elle demande à WAGES, déjà le cinquième, l’aiderait grandement dans son travail.

Previous Loan Details

Sitou is a very energetic single woman. In order to support herself, she started a foreign currency exchange brokerage business. She would like to increase her capital in order to earn more income. She is thus requesting her first loan from WAGES that should allow her to increase her income. ... More from Sitou'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.

Tags

About Togo

  • $1,700
    Average annual income
  • 9
    View loans »
    Togo Loans Fundraising
  • $8,671,525
    Funds lent in using Kiva
  • 503.4
    Communauté Financière Africaine Francs BCEAO (XOF) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,400 helped Sitou to increase capital.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jun 11, 2013
Listed
Jun 28, 2013
Currency Exchange Loss:
Possible
Ended:
May 17, 2014