Nzembo Plus Group
Rene is the head of “Nzembo Plus,” made up of 10 members firmly united to receive loans from the MFI (micro-finance institution) HOPE RDC in order to develop their businesses.
Rene’s main business is helping people ship packages. His business is west of Kinshasa. Since 2002 he has acquired solid experience in this area and works hard with good management skills to realize his dream of one day building his own office.
He would also like to achieve financial independence through his business, which earns $160 per week. He works to the best of his abilities and uses his contacts to achieve his goals.
With his next loan, Rene will purchase some chairs and fix the waiting room.
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.
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Success!! The loan was 100% repaid