Update on AnneAnne is a 48 year old engaged woman and the mother of 8 children between the ages of 11 and 29. Five of her children are still in school. Anne is a shopkeeper and has been selling firewood for 20 years already. Her expertise in this business and her experience make her very efficent. She has acquired and maintained a steady customer base over time.
Anne's business is progressing but her capital is not large enough for her to be able to purchase her merchandise in large quantities in order to be able to earn a good profit, since she and her fiancé already use the proceeds from the business to care for their everyday expenses.
With this loan, Anne will be able to purchase a truckload of wood and 50 bags of charcoal which will increase her profit considerably. She will save a portion of the profits for her children's education, and will reinvest the remainder in her business..
Previous Loan DetailsAnne is a 47-year-old engaged mother of eight, whose children range from 10 to 28 years old. Five of her children are still in school. She is a shopkeeper and has been selling firewood for 20 years. Her mastery of her business and her experience make her highly efficient. Over the years, she has… More from Anne'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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