Cpkii Plus Group
John is 40 years old, married and the father of four children whose ages vary between 3 and 12. Three of them go to school.
He has been part of the microenterprise world since 1991. He started his business by selling duplicating paper. Today, John sells iron bars at the market in the mid west of Kinshasa. With hard work and good management, John has stabilized his business. He borrowed eight loans from the MFI HOPE DRC for business expansion and fully repaid them.
With the next loan, John will be able to meet customer demand and generate additional profits. His business makes US $90 of profit per week. John’s ambition is to someday open a hardware shop in his area.
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