Update on ValerieValerie is a 38-year-old woman and the mother of a family. She has been running a bar-restaurant in a district in the capital for four years already. There, she sells hygienic beverages and food. She has acquired experience in this domain over the course of time, and this has enabled her to earn a considerable customer base. Unfortunately, her meager inventory prevents her from satisfying the customer demand appropriately. Thus, her customer base has shrunk significantly resulting in a drop in sales and therefore in her profits, too.
She is requesting this new loan to be able to purchase more cases of beverages and also some chairs to expand her business.This will enable her to retain customer and earn more, but to be more exact, to increase her sales and her profits as well. The profits will allow her in part to expand her business and to renovate it, as well as to meet family needs.
Previous Loan DetailsValerie is a 37-year old woman, married, with children. For four years, she has been managing a bar-restaurant in one of the capital city’s districts. She sells health drinks and food. Over time, she has acquired a good business experience, which allows her to attract a sizeable customer base. ... More from Valerie'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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- Repayment Term
- 15 months (Additional Information)
- Repayment Schedule
- Oct 17, 2013
- Oct 30, 2013
- Currency Exchange Loss:
- Dec 17, 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.