Godefroid K. is the president of a village bank named "Mpiko Plus", which means "courage". It is composed of 26 micro-entrepreneurs who are jointly liable to obtain loans in order to bolster their businesses. He runs his own general store, a business he started in 2005 in an outlying neighborhood located north of the city of Kinshasa. Thanks to four loans he obtained from Kiva's partner, the MFI Hope RDC, and to his good management and determination, his business is now stable and prospering. At this time, it turns out a weekly profit of $150. Godefroid ambitions to open a larger general store, and to become an importer and provider of goods in his area. He's 38 years old, married, and the father of two children aged 5 and 8, respectively.
Godefroid K. est président d’une Banque communautaire dénommée « Mpiko Plus » qui signifie « Courage » en anglais. Elle est composée de 26 micro-entrepreneurs unis solidairement pour obtenir des prêts dans le but de développer leurs activités. Il gère sa propre boutique générale qu’il a commencée en 2005, dans un quartier périphérique situé au nord de la ville de Kinshasa. Les 4 prêts reçus de l’IMF HOPE RDC, la bonne gestion ainsi que sa détermination dans la conduite de ses affaires ont permis à son affaire de devenir stable et de prospérer. Celle-ci lui génère actuellement un bénéfice de $150 par semaine. Godefroid a l’ambition d’ouvrir un grand magasin général et de devenir importateur et fournisseur des biens dans son milieu. Agé de 38 ans, il est marié et père de 2 enfants dont leurs âges sont 5 et 8 ans.
About HOPE DRC
HOPE 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.