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Evolution 3 (2) Group
In this Group: Faustin, Regina, Dany, Emma, Therese, Therese, Papy, Emmanuel
Faustin, age 58, is married and has five children ages 5 to 20 years old. All five of his children attend school.

Faustin is representing the Evolution 3 (2) group. He has a food stall where he sell a variety of items, and will use his portion of the group's loan to pay for canned goods and gasoline to sell. Many people burn gasoline in their lamps at home when the electricity is out.

His business strategy is to take out loans from HOPE and to be a good manager of the funds. He prides himself on the organization of his business and finances.

Faustin has received three loans from HOPE Congo, Kiva's partner, and has a good repayment record. His goal is to continue to develop his business.

Additional Information

More information about this loan


Important Information

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.)

  • $2,250
    Average annual income
  • 0
    View loans »
    Congo (Rep.) Loans Fundraising
  • $2,229,225
    Funds lent in using Kiva
  • 503.2
    Communauté Financière Africaine Francs BEAC (XAF) = $1 USD

Success!! The loan was 100% repaid

A portion of Evolution 3 (2) Group's $4,475 loan helped a member to pay for canned goods and gasoline.
100% repaid
Repayment Term
6 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
May 7, 2013
Listed
May 31, 2013
Currency Exchange Loss:
Possible
Ended:
Oct 17, 2013