Sainte Cathérine Plus Group
Update on Sainte Cathérine Plus GroupMireille is the chairwoman of the Community Bank named “Ste Catherine Plus” which is composed of 12 micro entrepreneurs. These members are united for the same goal to grow their businesses by loans received from Kiva through IMF HOPE RDC.
Mireille is 33-years-old. Her main activity is to sell eggs. She buys them in bulk and resells them to individual consumers at profit. She sells her products daily in downtown Kinshasa. She started her business in 2006. She is a trustworthy client of the MFI HOPE RDC, having eleven times obtained and correctly repaid loans. Her next loan will allow her to buy eggs in larger quantities to increase her sales in order to make a better profit. Its business makes a profit of about US$50 per week. The aims of this loan are mainly for reinforcing the working capital and food for her family. Mireille is married and the mother of seven children whose ages vary between 1 and 16 years old. Five of them attend school. She dreams to someday become an egg provider in her environment.
Previous Loan DetailsMamu is the chairwoman of a community bank named “Sainte Cathérine Plus” composed of 15 small business owners. Bank members are jointly liable for loans granted by Kiva to grow their businesses. Mamu is 57 years old and married. She is the mother of nine children, ranging in age between 17 and… More from Sainte Cathérine 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