Prosperite 3 Group
For the past twenty years Adrienne has sold clothes in the market. She has gained many valuable customers over the years. Her business strategy is to talk to her customers and offer friendly customer service. She sees people walking by her shop and invites them in to see her clothes for sale.
Adrienne has received six previous loans from HOPE Congo, Kiva's partner. She has a good repayment record. She is now applying for a 2,800,000 XAF loan for her group and will use her portion to buy more clothing to sell.
Adrienne would like to begin selling salted fish in the future. She feels this is a good business and would like to diversify.
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.
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About Congo (Rep.)
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Success!! The loan was 100% repaid