Kimya Plus Group
Update on Kimya Plus GroupKimya Plus is a Community Bank of 12 owners of small businesses chaired by Nzenza. Its members are jointly liable for loans granted by Kiva through the MFI HOPE DRCongo to grow their businesses.
Nzenza 39, single, is an itinerant photographer in his area located in the west of Kinshasa. He is well known and has many customers throughout the city of Kinshasa. He became a microentrepreneur in 1996. He has already received seven loans from Kiva through Microfinance Institution HOPE DRC and fully repaid them. He intends to use the next loan to purchase some camera accessories and photo frames to resell in order to reinforce his working capital. Currently, he earns a profit of US$60 per week. Nzenza is the father of a nine-year-old son who attends school.
Previous Loan DetailsChantal is the leader of the community bank named “Kimya Plus.” It is composed of 13 members united in solidarity to receive Kiva loans with the goal of developing their individual businesses. Chantal is 41 years old and the married mother of six children between the ages of five and 5 and 19.… More from Kimya 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