Liloba Plus Group
Maguy Y. sells smoked fish. She has been in business since 1987. She has acquired solid experience selling smoked fish. Since she joined one of Hope’s groups called “Liloba Plus” meaning “Word” in English, her business has been significantly reinforced through seven loans she has received from MFI HOPE DRC and repaid them properly.
Through her sales, Maguy makes about US$ 100 per week. She plans to use the next loan to purchase some more bags of smoked fish and sell them at a profit in order to increase her income. She dreams one day of opening a food shop. Maguy is 58 years old, married and a mother of six children between the ages of 22 and 35; only two of them attend school. The rest of the children are independent. In spite of her age, Maguy likes selling because it gives her the opportunity to make contact with many different people, and once they become permanent customers she is able to offer them quality products at a better price.
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.
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Success!! The loan was 100% repaid