Went Plus Group
Mfutila started his business in 1990. He has been operating a car wash service to the east of the city of Kinshasa. He is a loyal client of IMF HOPE RDC and has already received three different loans and has repaid them properly. He intends to use the next loan to increase the stock of his business by buying some car wash products and other goods with the aim of increasing the profits. Each week, his business brings in a profit of US$180.
His ambition is to expand his business in Kinshasa.
Mfutila has nine children whose ages are between 8 and 23 years old. Seven of them go to school.
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