Update on AlexisAlexis is turing into a very promising business man. With his last Kiva loan, Alexis successfully secured a large automotive client, allowing him to open a shop. His plan was to hire two graduates from a local automotive vocational school as apprentices, which he still plans to do once they graduate in June. The loan from Kiva was Alexis' only hope to get his business in a position to grow, and with the loan he has been able to do so with very early success. Thank you.
Given the professionalism and expediency that Alexis was able to deliver supplies to his automotive client, Alexis has been approached by an automotive vocational training school to provide construction materials as they expand their school. This school is a project of Rwanda's Workforce Development Authority and funded by the World Bank. As a main supplier, this would give Alexis a prime opportunity to be recognized by much larger and more influential companies. The success of this would really set him on a path for massive expansion.
Alexis has been given a temporary order to supply the first round of construction supplies for the school. Once he has proven that he has the capacity to complete such large orders, they will grant him the full 12-month contract.
Alexis needs a short-term loan of $25,000 so that he can meet his first order on time. We know he can do it. Alexis continually impresses us with his professionalism and strategic planning. And, AEC has been with him along the way so that he can reach his dreams.
Previous Loan DetailsAlexis has always had the entrepreneurial spirit. He is happy, outgoing, and has an infectious smile. So when Alexis found himself unemployed last year he decided to start a business for himself. Why depend on more short term work when he could follow his dream of running a small business, and cr... More from Alexis's previous loan »
About African Entrepreneur CollectiveAfrican Entrepreneur Collective (AEC) is a business accelerator program that aims to help African youth-led enterprises grow and create new jobs for poor in their communities. This unique, comprehensive program is committed to address the problem of unemployment in Rwanda and to capitalize on the opportunity for sustainable SME growth and fill a demonstrated need in East Africa.
Each year, AEC recruits and selects 100 entrepreneurs to participate in a two-year business accelerator. Once identified through competitive applications, entrepreneurs participate in the Business Training to enhance their business skills. Kiva lenders’ funds are used to impact more entrepreneurs in the country and create more job opportunities.
AEC joined Kiva through our Experimental Partnership Program, and has therefore received a lighter level of due diligence. Accordingly, loans associated with this partner carry a higher level of risk than typical Kiva loans.
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