Update on JoanJoan is a 39-year-old married mother of eight. Her children's ages vary between 3 and 26 years, and five of them are in school.
She is a merchant and for the past 17 years has sold seasonal produce (vegetables), both retail and wholesale, in a local market. She has a good knowledge of her suppliers and especially of the customers she has acquired over time given her experience in this field.
Still, she finds herself constantly out of stock because she has to sell her whole stock in order to buy more supplies, due to her limited capital.
She wants to buy vegetables in bulk to have enough stock to better meet the constant demand of her customers, to avoid stock shortages, and to increase her profits.
She will use her profits not only to expand her business, but also to provide for her family.
Previous Loan DetailsJoan is a 38-year-old married mother of 8. Her children's ages vary between 2 and 25 years old, and 5 of them are in school. She is a merchant and has sold retail and wholesale of fresh food (vegetables), seasonally in the same market place for the past 17 years. She has a good relationship with… More from Joan'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
- Repayment Term
- 15 months (Additional Information)
- Repayment Schedule
- Sep 16, 2013
- Oct 2, 2013
- Currency Exchange Loss:
- Dec 3, 2014
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.