Update on BonifaceBoniface is a young man of 40, who is married with children. He is a shopkeeper and has a little stall in the capital in which he has been selling shoes and telephone credits for three years. It should be noted that it is through this business that he supports his family. His business is doing well, especially his call-box, which is why he wants a loan so that he can increase his stock of communication credits and his sales. Thus, he will increase his profit. He will re-invest part of his profit to expand his business and the remainder will enable him to provide for his family.
Previous Loan DetailsBoniface is a young 39 year old man who is married and a father. He is a shopkeeper and opened a small counter in a neighborhood of the capital where he has been selling shoes as well as communication credits for 2 years. It is to be noted that its with this business that he meets the needs of hi... More from Boniface'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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