Bwanya Plus Group
Walelu has been a micro-entrepreneur for years. He runs a cement facility to the East of Kinshasa. He works hard with good management skills in order to achieve his goal of one day opening a larger cement facility in his environment. He would also like to achieve financial independence through his business that earns her $280 per month. Walelu is a trustworthy client of the MFI HOPE RDC, having four times obtained and correctly repaid loans. He will increase his stock of merchandise with his next loan by buying some more bags of cement and reselling them at a profit. Sixty-three years old, Walelu is married and the father of seven children whose ages vary between 13 and 37 years; two 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