Update on MoniqueMonique is 52 years old. She is divorced and the mother of 5 children aged between 15 and 26. Three of her children still attend school. She is a retailer and has been selling firewood for 20 years; it is thanks to her business that she is able to meet her family's needs.
Her good knowledge and experience in her area of work have helped her grow her customer base over the years. She often gets her supplies in the villages, buying stacks of wood which she splits and sells retail.
Monique would like, thanks to this loan, to be able to buy a pickup load of wood because that would generate more profit for her. She will save a part of her profit and the rest of it will enable her to meet her family's needs.
Previous Loan DetailsMonique is 52 years old. She is divorced and the mother of 5 children aged between 14 and 25. Three of her children still attend school. Monique is a retailer and has been selling firewood for 20 years; it is thanks to her business that she is able to meet her family's needs. Her good knowledge a... More from Monique'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
- May 28, 2014
- Jun 25, 2014
- Currency Exchange Loss:
- Aug 1, 2015
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.