Banungi Plus Group
Jean-Pierre sells pairs of shoes, slippers, etc. for women at the market located east of Kinshasa. He started his business in 2009. With hard work and determination, his business has prospered. He has already received six MFI HOPE DRC loans and fully repaid them. The loans he has received have helped him support his family. He makes $80 profit each week.
Jean-Pierre intends with the next loan to purchase more pairs of shoes needed by his customers and generate additional profits. His ambition is to someday open a shoe shop in his area. He is 52 years old, married, and is the father of six children whose ages vary between 8 and 16. Three of them attend school. He also takes care of his nephew.
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