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La Grace Divine 2 (#2) Group
In this Group: Romaric, Irene Honorine, Rolande, Gaudrey Ismael, Fenelon Marchal, Etienne
Romaric, age 33, is single with 2 children. He has one child currently attending school. He also cares for his elderly father. Romaric is representing the Grace Divine 2 (#2) group. He operates a retail shop where he sells car parts. He has had this business for 2 years. He will use the loan to buy more car parts to stock his store. His business strategy is to sell his inventory on credit and give his customers 3 days to pay. Romaric has received 3 previous loans from Kiva's partner, HOPE Congo. He has a good repayment record. He would like to continue to expand and add on to his store, which he wants to grow into a large car parts shop. Romaric hopes to continue to be able to save some of his profits for his childrens' future.

Additional Information

More information about this loan


Important Information

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.

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.)

  • $2,250
    Average annual income
  • 0
    View loans »
    Congo (Rep.) Loans Fundraising
  • $2,237,475
    Funds lent in using Kiva
  • 503.4
    Communauté Financière Africaine Francs BEAC (XAF) = $1 USD

Success!! The loan was 100% repaid

A portion of La Grace Divine 2 (#2) Group's $3,700 loan helped a member to pay for car parts.
100% repaid
Repayment Term
6 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Apr 16, 2012
Listed
May 24, 2012
Currency Exchange Loss:
Possible
Ended:
Sep 15, 2012