Jean has been in the microenterprise world for years. Today, he sells lamp oil in a market located in the northeast of Kinshasa. He is 45 years old, and married with three children between the ages of 7 and 11. All of them go to school.
His business has prospered, thanks to Hope’s loans. With his profit of about US$40 per week, he intends to use his next loan to increase his inventory.
Jean is happy to be part of one of MFI Hope’s groups. He joined the group in 2010. His business has been supported with the six loans he has received, and repaid, from MFI Hope DRC. His dream is to become a lamp oil provider in his community.
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