Mabongisi Ya Nkolo Plus Group
In January 2008, Elise decided to join one of the groups of Hope RDC in view of finding permanent financial support which will allow her to realize her dream of one day opening a general store. She is a faithful client who has received several loans from Hope, which she has reimbursed completely and on time.
The most recent loan which she has received this month of June permitted her to diversify her business by buying sacks of dried beans, onions, vegetable oil, and salted fish to re-sell in order to increase her profit. She has a working capital of US$ 130 and her business brings in a profit of US$ 40 per week which helps her pay the school fees for her children. She sells her wares in a mountainous zone in the south-west of Kinshasa. Elise is 45, married, and the mother of 4 children, aged between 13 and 19. All are enrolled in 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