Molende Plus Group
Sylvie has been in the small business world since 1993. She started her first business operating a restaurant. After some years, she decided to change industries due to profitability. Sylvie quickly stabilized her new second-hand clothing business through hard work, determination, good management, and savings. She started with one bundle of second-hand clothing and is up to ten bundles today. Sylvie sells at a market in Kinshasa, and her business makes $60 per week. Sylvie has already obtained and correctly repaid twenty loans from Microfinance Institution HOPE DRC. She will increase her stock of merchandise with her next loan by buying 4 bundles of second-hand clothing and reselling them at a profit.
Sylvie is confident with her business and is determined to someday be a second-hand clothing importer for markets in the DRC in general, especially in Kinshasa. She is 35 years old, married, and the mother of four children between the ages 3 and 14, three of whom attend 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