Aggée Plus Group
Update on Aggée Plus Group“Agée Plus” is a Community Bank made up of 21 micro entrepreneurs whose chairman is Bolenge. These members are united for the same goal to grow their businesses by loans received from Kiva through IMF HOPE RDC.
Bolenge is 37 years old and single. He has been in business since 1997 selling miscellaneous. Today, he operates a general store in the mid east of the city of Kinshasa. He likes his business because it makes him become financially independent and has stabilized his life economically. Bolenge has been a loyal client of the MFI HOPE DRC who has already received two different loans and has repaid them properly. He intends to use the next loan to increase the inventory of his goods by purchasing the store’s items such as some soaps, cans, and toilet papers, sugar, miscellaneous in bulk for resale with the aim of increasing his profits. Each week, his business brings in a profit of $95. Bolenge has two children aged 3 and 5 years old. One attends school.His ambition is to open a food shop in his environment.
Previous Loan DetailsErnest, aged 64, is the leader of the Community Bank named “Aggée Plus,” which is composed of 17 members united in solidarity to receive loans from the MFI (micro-finance institution) HOPE RDC in order to develop their businesses. Ernest runs a pharmacy in the mid-eastern area of Kinshasa. He… More from Aggée 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