Israel Baco Group
Venant is 71 years old and married. He sells poultry products on a retail basis. He started his business in 2008. He likes his business because it makes enough profit to support his family financially. His business brings in US$35 per week. Venant is a loyal client of IMF HOPE RDC who has already received five different loans and has repaid them properly.
Due to the high demand of his clients, Venant decided to use the next loan to increase the inventory of his products by purchasing more products in bulk to resell them at a profit in order to increase the profits. Venant is the father of five children whose ages vary between 6 and 14 years old. Four of them attend 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