La Restauration 1 Group
Cesar has a business transporting manioc from the villages just outside of Brazzaville to the markets in Brazzaville. Manioc is a popular food made from the cassava plant and is a staple in most Congolese homes. He has had this business for six years. He will use his loan to continue his current transportation business as well as install a small stand to sell foufou, another staple food like manioc. His business strategy is to quickly get the manioc to the market and in the hands of vendors. He knows the customers want to buy the freshest food possible.
Cesar has received two previous loans from HOPE Congo, Kiva's partner. He has a good repayment record. He hopes to have other activities in the future, especially producing his own manioc.
More information about this loan
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