Lisungi Plus Group
Being limited as far as financial means go and in view of her ever growing clientele, in 2005, Louise decided to join one of the groups of HOPE, called "Lisungi" which means "aid", with an eye to satisfying the needs of her customers and growing the income from her business. She has been a faithful client who has had several loans through HOPE and has correctly reimbursed them. Presently, her working capital stands at US$ 200. The loan she received this past month of May is being used to buy a big basket of smoked fish which she has added to her offerings along with salted fish, mushrooms, grubs (moth larvae, an important source of protein) and small fry (very young fish) that she already sells.
Her business generates a profit of US$ 80 per month. Her dream is to open a general store. Louise is married, 44 years old, and the mother of 6 children from 18 to 26 years of age. Only one of them is still living with the parents and attending 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.
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Success!! The loan was 100% repaid