Abraham Plus Group
In 2006, he bought his first mill. At the end of two years and thanks to the profit from that mill, he was able to buy a second that he still uses today. His business is situated in a northern district, the most populous of Kinshasa. In vue of his growing clientele, Jérôme has planned to use this month-of-May loan to buy a third mill so as to further increase his earnings. Presently, his business is bringing in a profit of US$ 75 per week.
The difficulty he encounters in his business is untimely power outages. Jérôme intends to buy a generator with later loans so as to be able to serve his clients at all times and thus earn more money. He is 43, married and father of 3 children, aged between 5 and 12. Only two are enrolled in school. He is a faithful member of one of the HOPE DRC groups named "Abraham". His dream is to open a real flour mill for the people living in his district.
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