Aimons-Nous 2 Group
He is representing the Aimons Nous 2 group. Telesphore owns and operates a barber shop, and has been doing this for six years. He will use the loan to pay for electric hair clippers, chairs, and a small generator.
His greatest difficulty is the unstable electricity in his community. When he purchases the small generator, he will be able to continue to operate even when the electricity stops.
His business strategies are to offer friendly customer service, create an inviting atmosphere in his shop and sterilize all his materials.
Telesphore has received three previous loans from HOPE Congo. He has a good repayment record. He hopes to continue to grow and own a large salon one day.
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.)
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Success!! The loan was 100% repaid