Le Chandelier 2 Group
Francoise sells used clothing in a local market and has had this business for 18 years. She has gained many loyal customers over the years. She will use the loan to buy a large bale of used clothing. In Congo, suppliers sell used clothing in large bales, which the vendors then separate out to sell. Her business strategy is to give a small gift (i.e., an extra piece of clothing) to returning customers.
Francoise has received one previous loan from HOPE Congo, Kiva's partner. She has a good repayment record. She would like for all of her children to be able to study in France. She has one son now who is studying at a university in France.
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