Oracle Plus Group
Update on Oracle Plus GroupNekua is the group’s leader. His group is named “Oracle Plus”, and it is composed of 29 micro entrepreneurs. They are united by the same goal: to grow their businesses by loans received from Kiva through IMF HOPE RDC.
Nekua runs a pastry. Besides that, he also sells beverages in his area located east of the capital city of Kinshasa. Nekua has been in business since 1997. He started his business by running a restaurant that he changed later into a pastry business because of the profit. Today, Nekua is happy because his business brings in a profit of $20 each day.
Thanks to Hope’s loans, which he received twice and repaid them correctly, he has diversified his business by adding beverages. Nekua plans to use the next loan to increase the inventory of his pastry by purchasing ten bags of bread flour in order to make loaves to resell at a profit. He dreams one day to open a catering service and he wants to be a farmer. He is single and has three children.
Previous Loan DetailsNekua, aged 65, is the chairman of the Community Bank named “Oracle Plus.” It is composed of 23 members united in solidarity to receive a Kiva loan with the goal of developing their businesses. Nekua has been part of the micro-enterprise world for more than ten years.
Nekua is single and th... More from Oracle Plus Group's previous loan »
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.
Concurrent and Successive Loans
Our Field Partners often work with borrowers over a series of loans as the borrowers build credit, take out bigger loans, and expand their businesses. In order to make it easier for our Field Partners to post loans for borrowers who have been listed on Kiva before, we allow them to post successive and concurrent loans for their Kiva borrowers. This means that our Field Partners are able to post a borrower's second, third, etc., loan on Kiva without having to re-enter all of the borrower's information.
This borrower has been listed on Kiva before, so you'll see an updated loan description, as well as excerpts of the original descriptions from earlier loans. Most borrowers take out loans consecutively, meaning that they receive a second loan after having repaid the first. However, sometimes our Field Partners give out concurrent loans, allowing borrowers to take out one primary loan and a secondary "add-on" loan along with it. These "add-on" loans are typically smaller than the borrower's primary loan and serve a different purpose. Because Field Partners can now post loans as successive and concurrent loans, you will be able to track borrower progress over time and see the various ways a borrower is working with our Field Partners through funds from Kiva’s lenders.
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