Progression Plus Group
Thérèse makes and sells doughnuts. She began her business in 1993. After hard work and good management, she succeeded in making it thrive thanks to the accumulated profits and different loans she received from HOPE DRC. Thérèse is a trustworthy client of the MFI HOPE RDC, having six times obtained and correctly repaid loans. She will increase her stock of the inputs with her next loan by buying wheat flour, yeast and vegetable oil for making doughnuts and reselling them at a profit. Her business brings in US$40 of profit each week. Her dream is to someday open a drugstore in her environment. Thérèse is 38 years old, married and the mother of seven children whose ages range from 6 to 20 years old. All of them are pupils.
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