Merci Plus Group
Mante sells plastic items and salted fish in the western area of Kinshasa. He has been in business since 1997. His beginning capital was $50. Currently, through his sales, Mante makes about $40 per week. He plans to use the next loan to purchase some more plastic items and two bags of salted fish to resell at profit in order to increase his income.
Mante is a trustworthy client of the MFI Hope DRC, having nine times received and properly repaid loans. He dreams one day of becoming a fish provider in his area. Mante is 34 years old, married and the father of two children whose ages are 3 and 7. One of them attends school.
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.
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