Loboko Plus Group
Esperance sells women’s clothing and fish and meat at a market located in the eastern area of Kinshasa. She likes her business because it helps her support her family. Currently, through her sales, Esperance makes about $80 per week. Her plans are to use the next loan to purchase some baskets of fish to resell in order to increase her income.
Esperance is a trustworthy client of the MFI Hope DRC, having four times received and properly repaid loans. She dreams one day of having her own significant working capital. Esperance is 47 years old, married and the mother of five children whose ages vary between 14 and 28. Three of them attend school.
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