White 2 (2) Group
Rubin is the leader of a small group of 11 other micro-entrepreneurs in Brazzaville, and would like to take out his first small loan of 250,000 XAF (Central African CFA francs), the local currency. With this loan, Rubin will be able to purchase additional chicken, beef, and other meats for his butcher’s shop and add a small drinks area to his video game room. He gains customers by offering a warm and welcoming atmosphere and building friendships with his neighbors.
In the future, Rubin would like to grow his business to include a walk-in freezer so that he can increase his capacity to keep meat fresh. Through the proceeds from his businesses, Rubin hope to be able to support his children and put all of them through school.
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