Celestin’s business has been successful in delivering and selling wrapping papers and plastic bags. He is planning to rent a larger place in order to sell wrapping papers and plastic bags in bulk. Many people like Celestin because he keeps good relations with them and provides for their needs on time. He has been a member of Tuwisana, one of HOPE’s loan groups, since last May.
Celestin is 58 years old. He is married and has eight children. His business is located in Ngaliema, in the Western mountainous area of Kinshasa.
About HOPE DRCHOPE 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.
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Success!! The loan was 100% repaid