Joyce Plus Group
Marceline’s ill health, caused by a surgery undergone in 2006-2007, prevented her from doing commerce fully. In the second half of 2007 through today, she started back up again by including fresh fish.
She joined one of groups of the micro-finance institution HOPE named “Joyce” in February 2008 with the goal of receiving renewable financial support for developing her business. She received loans from HOPE four times, and she repaid them regularly and completely. In April, she used the loan received to buy some salted fish, and she diversified by including kerosene, as well as vegetable oil, intending to grow her revenues.
Currently, her business generates for her a profit of $33 a week. Her ambition is to buy a freezer with the goal of preserving the fresh staple goods that her customers have often needed.
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.
About Congo (Dem. Rep.)
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Success!! The loan was 100% repaid