Progression Plus Group
Micheline sells drinks in her local area located in the south-western area of Kinshasa. She began her business in 1998. After hard work and good management, she succeeded in making it thrive thanks to the accumulated profits. She is a loyal client of MFI HOPE DRC and has already received five different loans, all of which she has repaid properly. She intends to reinforce her capital with her next loan by purchasing more crates of drinks. Her business gives her a profit of USD $60 every week. Micheline is 43 years old, married and the mother of five children whose ages range between 3 and 20. Four of them attend school. Her ambition is to open a crate drinks facility.
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