Suzanne is one of the members of the group La Crainte de Dieu (1) and is the leader of a group consisting of ten micro-entrepreneurs from Brazzaville, Congo. Suzanne is married with six children, the oldest who is 23 and the youngest who is 8 years old. This is Suzanne's second loan cycle with HOPE Congo and she began with cooking doughnuts but has expanded her activities during the past five years and now she operates a small patisserie. She will use the loan to purchase the necessary material to prepare baked goods for her clients, such as oil, sugar, and wood that she uses to prepare her fire. She has felt the pressure of increased prices on raw materials in the past and this continues to be a difficult obstacle for her to overcome. She knows that continued reinvestment of profits back into her business is the key to being able to continue to grow her activities. In the future, she has hopes to improve the housing situation of her and her family as her patisserie continues to grow.
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.