Progression Plus Group
Petronie is married and has four children who are between 18 and 25 years old. Three of them attend school.
She sells palm oil in a market located to the west of Kinshasa. She has been in business since 2000. Her beginning business capital was US $20. With hard work and good management, Petronie’s business has prospered and generates a profit of US $60 per week.
She has already borrowed nine loans from the MFI HOPE DRC for business expansion and fully repaid them. Petronie intends with the next loan to purchase 400 litres of palm oil for resale in order to meet her clients’ needs and generate additional profits.
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