Blaise runs a general boutique. He sells soaps, containers, sugar, salt, toilet papers, candles, matches, and so on. He has been in business since 2002. He began his business running a telephone booth, but in 2006 he fell sick and was hospitalized for three weeks. After recovering, Blaise decided to change the business by opening a general boutique in 2007. After learning through his friend about Hope’s loan program, he decided to join one of its groups in February 2008. Blaise has already received two loans from Hope that he repaid correctly. With his next loan he plans to extend his business by adding others items such as phone accessories. Blaise is 35 years old and a father of a 5-month-old baby. Blaise runs his business in the Northern area of Kinshasa.
About HOPE DRC
HOPE International has been providing small business loans and savings services to thousands of entrepreneurs in DRC since 2004. HOPE DRC targets small business owners who can use loans to increase their inventories or invest in assets that have the potential to increase their incomes. Funds from Kiva lenders play a major role in expanding access to affordable, flexible capital for micro-entrepreneurs, 80% of whom are women.
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.