Bon Berger 1 Group
Medard sells manioc in bulk to vendors in Brazzaville.(Manioc is made from the roots of the Cassava plant and is a staple food in most Congolese homes.) He has been operating this business for over 10 years. He will use the loan to buy a field's worth of manioc. His business strategy is to sell the manioc in bulk to his vendors. He is able to move large amounts of product and his customers are happy to buy in bulk.
Medard has received five previous loans from HOPE Congo, Kiva's partner. He has a good repayment record. He wants to continue to grow and have a large business in the future.
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.)
0View loans »
Success!! The loan was 100% repaid