Sychomore Plus Group
Blandine earns a living by selling clothing in her neighborhood located southwest of Kinshasa. She has many customers. She started her business in 1997. She has already received thirteen loans from the micro-finance Institution HOPE DRC and repaid them correctly. Her business brings in the profit of about $120 each week.
Blandine is planning with the next loan to purchase clothing in bulk to resell at a profit. Her ambition is to open a larger clothing shop. She is 49 years old, married, and the mother of five children between the ages of 11 and 25.
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