Rose Plus Group
Godefroid intends to use the loan of this May to buy merchandise to bolster his inventory in order to satisfy the needs of his customers for sugar and lollipops. He's running into difficulties due to electric power outages occurring at awkward moments. But he uses blocks of ice to cool his drinks just the way his customers like it. Currently, his business produces $144 in profits a month. He hopes to make more than that in the near future because his ambition is to open a cold room to store fresh foodstuff for customers with the goal of growing his revenues.
Godefroid has been a member of a HOPE RDC group named "La Rose" since 2008. He is 42 years old, married, and the father of four children, ranging in age from 2 to 12. Two of them go to school.
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