Kintouadi 1 Group
Armand is a very industrious and talented man. His main business is to sell drinks and plastic chairs. He has had this business for four years. He is also a professional photographer and is hired to take pictures at weddings and other large events. He has done small photography jobs since 2003. He will use this loan to pay for more chairs and drinks to sell. His business strategy is to play music and provide chairs for customers to hang out and have a drink at his shop.
Armand has received one previous loan from Kiva's partner HOPE Congo. He has a good repayment record. He hopes to continue to succeed in his business and continue into 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.)
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Success!! The loan was 100% repaid