Affection Plus Group
Albert D. is determined to be a successful businessman. He sells used clothing at a market located in the eastern part of Kinshasa. He became a microentrepreneur in 2004. Albert has already received three loans from the microfinance institution HOPE DRC and fully repaid them.
He intends to use this loan to expand his inventory. He will buy used clothing to resell at a profit. Currently he earns a profit of $25 a week. He will seek to make more profit by selling more products.
Albert is 42 years old, married and the father of four children aged 7 to 14. All of them attend 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.)
42View loans »
Success!! The loan was 100% repaid