Nouvelle Vision Plus Group
Update on Nouvelle Vision Plus Group“Nouvelle Vision” is a group of 20 owners of small businesses chaired by Ray. Its members are jointly liable for loans granted by Kiva to grow their businesses.
Ray, a 20-year-old single man, operates a cellphone booth and is a money changer, earning US$60 of profit per week. In business for seven years, he is a hard-working man with demonstrable business abilities such as organisation and good management. He knows how to attract his customers by offering what they need and like. He is also diplomatic when he talks with his clients.
Ray, a loyal client of the MFI HOPE RDC who has already received and repaid two loans, is requesting a new loan to buy dozens of prepaid cards to resell at profit in order to meet high customer demand and generate more profits. Ray’s ambition is to become a prominent prepaid-card provider in his community.
Previous Loan DetailsNouvelle Vision Plus is a community bank group which is composed of 16 members united in solidarity to receive loans from Kiva through MFI HOPE RDC with the goal of developing their businesses. It is located in Kinshasa. Pascal sells lamp oil. He has been in business since 1994. His beginning… More from Nouvelle Vision 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