Bomengo Plus Group
His general store includes canned foods, soaps, candles, toilet paper, milk, sugar, salt, etc... With the loan of this May, he has planned to bolster his stock of merchandise aiming to increase his revenues and to satisfy the needs of his ever-growing customer base. His ambition is to open a store for men's and women's clothing. The market is big in his district. Currently, he totals up $300 in capital and his work generates a profit of $175 per month. He has joined a HOPE RDC group in 2008 with the goal of realizing his dream
Patrice is 47 years old, married, and the father of eight children, ranging in age from 17 to 32. Three of them are on their own, and five live with Patrice and his wife and 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