Cloche Plus Group
Update on Cloche Plus GroupAngel is the chairwoman of the community bank named “Cloche Plus,” which means "bell" in English. It is composed of 10 micro entrepreneurs. These members are united for the same goal--to grow their businesses with loans received from Kiva through IMF HOPE RDC.
Angel is 30 years old. Her activity is selling timber. She buys timber in bulk and resells it in detail at a profit. She sells her products daily in her area.
Angel started her business in 2004. She is a trustworthy client of the MFI HOPE RDC, having nine times obtained and correctly repaid loans. Her next loan will allow her to increase her stock by buying timber in larger quantities and increase her sales to make a better profit. Angel makes a profit of about US $50 per week. She is married and the mother of three children whose ages range between 6 months and 9 years old. One of them goes to school. She is also responsible for her niece.
Previous Loan DetailsErick, age 24 and single, is the president of the community bank “Cloche Plus,” which is composed of 17 members united in solidarity to receive loans from Kiva through IMF HOPE RDC, with the goal of developing their businesses. Erick started his business in 2003. He sells miscellaneous goods at… More from Cloche 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