Joyeux Lutins Plus Group
Kilolo decided to join a HOPE RDC group named “Joyeux Lutins” in 2008, with the goal of opening a clothing store one day. She is a loyal client who has received HOPE RDC loans and who has totally repaid them on time. The last loan she had was used to buy ten trays of eggs, as well as spices to sell in order to grow her revenues.
Kilolo is divorced and is the mother of four children, ranging in age from 6 to 17. Three of them are students. One is in secondary school, and two are in primary school. Currently, her capital amounts to $100. Her business generates for her a profit of $48 each week.
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