Minzoto Plus Group
Rose is 43 years old and the mother of 4 children between the ages of 6 and 13. All of them attend school. Rose sells corn and manioc flour and has been in business for many years. After learning through her friend about Hope’s loan program, she decided to join one of its groups in 2009. Rose is a trustworthy client of the MFI HOPE RDC, having seven times obtained and correctly repaid loans. With her next loan, she is planning to purchase two 50 kg sacks of corn and manioc flour to increase her business' inventory. Currently, her business brings in about $170 per month. She runs her business in the eastern area of Kinshasa.
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