Salem Plus Group
Paulin sells fertilizer and seeds to the west of Kinshasa. He started his business in 1993. Paulin is happy right now as, with the loan, he will be able to buy fertilizer and seeds, have a greater range of stock and be able to meet customer demand. Paulin makes a profit of US$100 per week. With the money he earns, he hopes to provide financial support for his family. His dream is to, someday, own a farm. Paulin has six children aged between 2 and 35. Three of them go to school. He also takes care of his two nephews.
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