Mont Sinai Gs1 Group
Alphonse is 61, married and the father of five children between the ages of 18 and 29. He has been active in his business since 1996. He sells sewing accessories at the market west of Kinshasa. He has been dedicated to his business, which is the only source of income he has to support his family.
He is a loyal client of IMF HOPE RDC and has already received and successfully repaid 12 loans. Alphonse is planning with the coming loan to purchase items of good quality that are needed by his clients in order to generate more profit. With the next loan, Alphonse's group members will meet their clients’ needs and improve their business facilities in order to generate more profit to support their families.
His ambition is to someday open a beverage facility in his area.
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.
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Success!! The loan was 100% repaid