Jolie is a chairwoman of a community bank named “La Patience Plus,” which is composed of 31 micro-entrepreneurs. La Patience Plus is in Lubumbashi, which is a city located in the southeast of the Democratic Republic of Congo. Lubumbashi is the second largest city in the DRC, which was not spared from the crisis and multiple wars that hit the DRC during the 1990s decade. It is from the 2000s until today that the informal sector took off.
Jolie, aged 27, is married with four children aged between 2 and 7 years. She sells pairs of shoes in the southern area of Lubumbashi. She has been in business since 1999. She has acquired solid experience, and her business has prospered thanks to good management and accumulated profits. She intends with the next loan to open a new selling place and purchase some more pairs of shoes to increase the inventory of her business in order to increase the income. Currently, she earns a profit of $120 every week. Jolie’s ambition is to open a general shop. All of her children attend school.
About HOPE DRC
HOPE 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.