La Crainte De Dieu (2) Group
Dassin is married with three children, the oldest who is 16 and the youngest who is just five months old. This is Dassin's fourth loan cycle with HOPE Congo and he has been operating a small shop which he started in 2001 selling bread. He will use the loan to purchase some additional goods for his store, such as additional drinks, soap, and cooking oil. Like many others, Dassin has felt the pressure of increased prices on his inventory but insists that prayer is a core part of overcoming these obstacles. He realizes that continued reinvestment of profits is critical to grow his activities. In the future, he wishes to be able to take his family on a vacation outside of Brazzaville and to provide all of his children with a high quality of education for their own futures.
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