Célestine

Loan description:

Celestine Sonon is 40 years old, married and with 5 children, all of them at school. For nearly fifteen years, she has been a producer of oil made from red palm nuts. She has a small production unit at home. She hires 4 people to help with the production and she pays them well. Celestine sells all her red palm oil production at the large market of Porto-Novo. Celestine also adds to her income by selling locally produced fabric and shoes. She sells these in two local markets. Celestine buys palm nuts at the farm where her husband works. She buys the fabric and shoes at Cotonou market. Celestine has been member of the microfinance institution ACFB for several years. She is now requesting a loan of $ 1000 to buy palm nuts in bulk and fabric and footwear in larger volumes. In this way she will be able to meet the demand of her customers during the imminent festive season. The profits made will be used in the household expenses, mainly school fees. Celestine also wants to make some savings to expand her business.