Rachetés Plus Group
Wanting to bolster her business continually and to grow her revenues, Elisa joined one of the groups of the micro-finance institution HOPE RDC named “Rachetés” in December 2008. The loan she obtained enabled her to buy a box of fresh fish, some peanuts, and spices to resell with the goal of augmenting her profits. Currently, her business generates a profit of $20 per week. Her ambition is to open a house with a cold room for reselling fresh staple items.
Elisa is 50 years old, divorced, and the mother of four children, ages 16 to 30. The last two of them live with her. She is happy with the loans received from HOPE because they help her to develop her business and give her hope.
About HOPE DRCHOPE International has been providing small business loans and savings services to thousands of entrepreneurs in DRC since 2004. HOPE DRC targets small business owners who can use loans to increase their inventories or invest in assets that have the potential to increase their incomes. Funds from Kiva lenders play a major role in expanding access to affordable, flexible capital for micro-entrepreneurs, 80% of whom are women.
This is a Group Loan
In a group loan, each member of the group receives an individual loan but is part of a larger group of individuals. The group is there to provide support to the members and to provide a system of peer pressure, but groups may or may not be formally bound by a group guarantee. In cases where there is a group guarantee, members of the group are responsible for paying back the loans of their fellow group members in the case of delinquency or default.
Kiva's Field Partners typically feature one borrower from a group. The loan description, sector, and other attributes for a group loan profile are determined by the featured borrower's loan. The other members of the group are not required to use their loans for the same purpose.
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Success!! The loan was 100% repaid