Mapendo Plus Group
Yode has been active in his business since 2002 running a restaurant. Today, he has changed his business. He now sells fresh fish at the market located west of the city of Kinshasa. He is a loyal client of the MFI HOPE RDC, who has already received ten different loans and has repaid them properly. As the demand for fish is high in his community, he intends to use the next loan to increase his stock of fish and to resell them with the aim of increasing his profits. Each week, his business brings in a profit of US $120.
Yode's ambition is to open a general store. He is married and has five children, who are between the ages of 3 and 12 years old. Three of them go to 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