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Faraje Baco Group
In this Group: Germaine, Marcel, Clementine, Brigitte, Marceline
Germaine is the leader of the Community Bank named “Faraje BACO” which is composed of 5 members united in solidarity for receiving Kiva loans with the goal of developing their businesses.

Germaine has been part of the micro-enterprise world since 1986. She runs a sewing workshop to the South of the city of Lubumbashi. She has acquired solid experience in this area and works hard with good management skills in order to realize her dream of one day opening a large store in her environment. She would also like to achieve financial independence through her business that earns her US $25 per week. She works to the best of her abilities and uses her contacts so that she might achieve her goals.

Germaine has already obtained and correctly repaid seven loans from Microfinance Institution HOPE DRC. With this loan, she will increase stock of fabric and sewing accessories for her sewing workshop in order to generate more profit.

50 years old, Germaine is single and the mother of a daughter who is 32 years old and independent.

Additional Information

About HOPE DRC

HOPE 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.)

  • $119
    Average annual income
  • 8
    View loans »
    Congo (Dem. Rep.) Loans Fundraising
  • $10,200,875
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A portion of Faraje Baco Group's $3,350 loan helped a member to increase stock of fabric and sewing accessories for her sewing workshop.
100% repaid
Repayment Term
6 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Oct 19, 2012
Listed
Oct 28, 2012
Currency Exchange Loss:
N/A
Ended:
Apr 2, 2013