Bolingo 2 (#4) Group
Jean Pierre owns a grocery shop in a local market in Brazzaville which he has operated for the past five years. Food prices have been slowly rising in Brazzaville, which has been difficult for Jean Pierre. He is grateful for the loans that allow him to buy more at one time, thus lowering the cost per product. His strategy is to keep a large variety of goods in his store to attract customers.
Jean Pierre has received two previous loans from Kiva's partner, HOPE Congo and has a very good repayment record. He will use his portion of the loan to buy salt, cookies, milk, pasta and tomatoes to sell in his shop.
Jean Pierre hopes to continue to grow his business and carry a greater variety of merchandise. He would like to build a home for his family one day.
More information about this loan
About HOPE Congo S.A.: HOPE Congo S.A. is a start-up microfinance institution located in Brazzaville, Republic of the Congo. As of 2009, the Republic of the Congo was the 136th-ranked country in the United Nations Development Programme’s Human Development Index. The average life expectancy is in the low 50s and food insecurity poses a constant threat to ordinary people’s well-being. Through the creation of community banks, HOPE Congo provides credit, savings, and training for entrepreneurs in Brazzaville. With their services, they aim to nourish a culture of saving and an independent community of responsible and self-sustaining entrepreneurs.
Please note that this Field Partner does not meet all of the minimum criteria for partnership with Kiva. HOPE Congo is a start-up MFI that is being fully backed by the HOPE International with an institutional guarantee. Because Kiva lenders are fully protected against institutional failure by the guarantee agreement, Kiva felt it was appropriate to override our minimum criteria in order to access this new market.
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 (Rep.)
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Success!! The loan was 100% repaid