Mapendo Plus Group
Update on Mapendo Plus GroupMapendo Plus is a community bank made up of 10 micro-entrepreneurs whose chairwoman is Sylvie. These members are united by the same goal, which is to grow their businesses through loans received from Kiva through IMF HOPE RDC.
Sylvie runs a restaurant in the western suburban area of Kinshasa. She is 35 years old and a mother of five children who are between the ages of 1 and 17. Three of them attend school.
Sylvie started her food-selling business in 1980. With hard work and good management -- and by providing good customer service -- Sylvie’s business has prospered and she has permanent customers to help maintain the business.
She has already received and successfully repaid nine loans from MFI HOPE DRC. Her business generates $90 of profit per week. With the new loan, Sylvie is planning to increase the inventory of her restaurant to meet customer demands and generate additional profit. Her ambition is to expand her business.
Previous Loan DetailsSylvie is a chairwoman of a community bank named “Mapendo Plus.” The group is composed of 13 microentrepreneurs who are jointly united to receive loans from Kiva through MFI HOPE DRC, with the goal of developing their businesses. Sylvie has been in business since 1980 with a starting capital of ... More from Mapendo 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.
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Success!! The loan was 100% repaid