Update on Viergelie
Viergelie wants to be able to take advantage of local business opportunities. She is very happy with her sales. She is taking a new loan to increase her stock.
Previous Loan Details
Viergelie is 47 years old and a widow. She lives in the town of Delmas with her two children. She has been selling construction materials for 12 years. She has a small warehouse at her home where she sells cement, chains, PVC [pipe], etc. She does very well with this business. To avoid gaps in … More from Viergelie’s previous loan »
More information about this loan
This loan is part of PMS’ flagship loan program, which responds to entrepreneurs’ traditional need for working capital. Through group and individual lending, PMS’ loan officers extend credit to borrowers mainly located in urban centers who are excluded from the traditional financial system. By supporting this loan, you are helping PMS support the needs of Haiti, a country still recovering from the devastating 2010 earthquake.
About Entrepreneurs du Monde:
Entrepreneurs du Monde – Palmis Mikwofinans Sosyal provides financial and social services to low-income urban entrepreneurs in Haiti through various types of loans. Haiti is the poorest country in the Americas and is also a challenging environment to operate in because of the high rate of natural disasters, including the devastating 2010 earthquake.
By offering a range of loans, Entrepreneurs du Monde – Palmis Mikwofinans Sosyal allows borrowers to graduate to larger loan sizes while they continuously benefit from a comprehensive package of non-financial, social services.
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.