Lobiko Plus Group
Update on Lobiko Plus GroupJulienne, aged 60, is the chairwoman of the Community Bank “Lobiko Plus”, which is composed of 11 members united in solidarity to receive loans from Kiva through the MFI HOPE RDC with the goal of developing their businesses.
Julienne has been in business for years. She sells fresh food at the market located north-east of the city of Kinshasa. She is a loyal client of the MFI HOPE RDC who has already received seven different loans and has repaid them properly. As the fresh food demand is high in her community, she intends to use the next loan to increase her stock of fresh food, reselling it with the aim of increasing her profits. Each month, her business brings in a profit of US$300.
Her ambition is to someday become a fresh food wholesaler in her environment. Julienne is a widow and has five children, who are aged between 20 and 30 years old. Two of them go to school.
Previous Loan DetailsMarie-Josée, is the chairwoman of the Community Bank named “Lobiko Plus”, which is composed of 16 microentrepreneurs. These members are united for the same goal: to grow their businesses by loans received from Kiva through IMF HOPE RDC. Marie-Josée is 63 years old. Her main activity is to sell… More from Lobiko 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