La Richesse (2.2) Group
Privat is married and this is his very first loan cycle with HOPE Congo S.A. Privat has been operating his restaurant in Brazzaville since 2003 and will use the loan to purchase a variety of drinks and more chairs for his customers. His secret to operating his restaurant is good management of his activities and ensuring that he maintains an excellent relationship with his customers.
In the future, Privat has dreams of opening a new V.I.P. section of his restaurant that would be used and rented by customers who would like to have a more private dining experience.
For his family, he hopes to improve his living conditions and he continues to be an active member in his community, where his neighbors have affectionately nicknamed him 'President Obama' for his diplomatic and outgoing character.
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.
About Congo (Rep.)
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Success!! The loan was 100% repaid