Update on Marie MadeleineMarie Madeleine is a 42-year old widow, who is mother to seven children and three grandsons, whose ages range from eight to 28 years old. Four still go to school. She has opened a sewing workshop which she has been managing for the past year and she is doing well. In this workshop, she often buys fabrics which she makes up before selling, so that she does not have to wait for the customer to bring in fabric themselves. She is requesting this loan to buy fabrics and haberdashery products that she can sell to customers before making up the clothes. This will enable her not only to make a profit on making up the clothes but also on the sale of her fabrics; she will also be able to satisfy customer demand. This profit will help her to save money for the new school year for her children and grandchildren, to refurbish her workplace and to buy herself a sewing machine in the future.
Previous Loan DetailsMarie Madeleine is a 41 year old widow with 7 children and 3 grandchildren between the ages of 7 and 27. Four of them are in school. She opened a sewing shop one year ago and has been doing very well. In her workshop, she also sells the fabric to her clients so she doesn't have to wait for them to… More from Marie Madeleine's previous loan »
More information about this loan
This loan is part of ACEP Cameroun's new loan program targeting poor clients who require smaller loans thant ACEP normally disburses. The smaller loan size allows clients with micro-enterprises to borrow and repay the funds they need to grow. By supporting this loan, you are expanding financial access to entrepreneurs with very little starting capital, including many who have never taken out a loan.
About ACEP CamerounAgence de Crédit pour l’Entreprise Privée (ACEP) is Kiva's second Field Partner in Cameroon. Founded in 1999, ACEP has developed a strong lending methodology to serve entrepreneurs in Cameroon's urban centers such as Douala and Yaounde.
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.
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Success!! The loan was 100% repaid