Audrey is one of the members of the group White 2 (1). The group consists of nine female micro-entrepreneurs from Brazzaville, Congo. Audrey is married with 4 children whose ages range from 15 to 19 years old. Audrey is very excited to be receiving her third loan from HOPE Congo after having successfully paid off her previous loans. She has had her business for around two years. Her business consists of selling foufou (local food), miscellaneous drinks, and fuel. She says her biggest challenge so far in her business is creating customer loyalty. With this next loan she will be able to buy more of each of these items to further grow her inventory. By buying in bulk, she will be able to reduce her prices, giving her a competitive advantage in her bustling stall. Audrey has big dreams for the future of her family. She hopes that one day she will be able to pay for her children to travel abroad to pursue their university studies. She thanks you all for your support!!!
More information about this loan
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.