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Sycomore 1 Group
In this Group: Stephane Armel, Florent Alberie, Chimene Eglantine, Theodorin Belverack, Rufin Parfait, Shelyc Orwell
Stephane, age 38, is married and has two children, ages 10 and 19. He also provides for his father. Stephane is representing the Sycomore 1 group. He sells sandals in a local market in Brazzaville. He has had this business for one year. He will use the loan to buy more sandals to sell. His business strategy is to keep his stand clean and the sandals organized. He also has competitive prices and is willing to negotiate with a customer to agree upon the best price.
Stephane has received two previous loans from Kiva’s partner, HOPE Congo. He has a good repayment record. He hopes to continue to expand and become a large sandal business. He would like to travel abroad and buy sandals in order to obtain a better price and a wider variety of sandals. He wants to send his children abroad to study as well.

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.)

  • $6,600
    Average annual income
  • 0
    View loans »
    Congo (Rep.) Loans Fundraising
  • $2,281,600
    Funds lent in using Kiva
  • 522.2
    Communauté Financière Africaine Francs BEAC (XAF) = $1 USD

Success!! The loan was 100% repaid

A portion of Sycomore 1 Group's $3,450 loan helped a member to pay for sandals to resell.
100% repaid
Repayment Term
6 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jun 13, 2012
Listed
Jun 16, 2012
Currency Exchange Loss:
Possible
Ended:
Nov 15, 2012