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Salomon (2) Group
In this Group: Augustine, Gisèle, Ignace, Martine, Junette , Rachel, Natacha , Claudia , Olga, Anasthasie, Lucie , Marceline
Augustine is the mother of five children and runs a small diverse merchandise business out of her home. Always thinking of more activities to help support her family, Augustine sells a bit of everything: gasoline, manioc (cassava), fruit and fish and she even makes small cakes, called brioches, to sell. As a member of the community bank group Salomon (2), Augustine helps lead a subgroup of eleven other micro-entrepreneurs in Brazzaville in the Republic of Congo.

Now on her fifth loan cycle with HOPE Congo, Augustine wants to take out a loan of 250,000 Central African CFA franks to purchase additional flour and sugar for her cakes and expand to purchasing fish from Point Noir, a coastal city in the Republic of Congo. Augustine dreams of purchasing her own piece of land, where she could build a home for her family in the future.

Additional Information

More information about this loan


Important Information

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.

Please note that this Field Partner does not meet all of the minimum criteria for partnership with Kiva. HOPE Congo is a start-up MFI that is being fully backed by the HOPE International with an institutional guarantee. Because Kiva lenders are fully protected against institutional failure by the guarantee agreement, Kiva felt it was appropriate to override our minimum criteria in order to access this new market.

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.

Tags

About Congo (Rep.)

  • $2,250
    Average annual income
  • 0
    View loans »
    Congo (Rep.) Loans Fundraising
  • $2,177,650
    Funds lent in using Kiva
  • 478.7
    Communauté Financière Africaine Francs BEAC (XAF) = $1 USD

Success!! The loan was 100% repaid

A portion of Salomon (2) Group's $6,600 loan helped a member to purchase additional flour and sugar for her cakes and expand to purchasing fish.
100% repaid
Repayment Term
6 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
May 7, 2014
Listed
May 25, 2014
Currency Exchange Loss:
Possible
Ended:
Oct 17, 2014