Bon Samaritain 2 (2) Group
Paulin is representing the Bon Samaritain 2 (2) Group. Paulin sells vegetables and firewood at a stand. He has had this business for two years.
He will use the loan to buy tomatoes, onions, cucumbers, and wood to sell. His business strategy is to sell in the market during the dry season and from his home in the rainy season. During the rainy season, there is less produce available to sell and the market is often messy because of the mud. The dry season offers more produce to sell and an easier market to do business in.
Paulin has received one loan from HOPE Congo, Kiva's partner. He has a good repayment record. In the future, he wants to start a charcoal-selling business.
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