Gabi provides fresh fish to women to sell at different markets in Kinshasa. He likes this business because it gives him opportunities to know many different women. Gabi started the business in 2005 with a capital of $100. He has worked very hard to increase his profit. His business makes 80% of profit for each sale. He purchases his fish at Kalemie at Tanganyika Lake in Eastern Congo and ships them to his customers in Kinshasa. Gabi would like a loan to buy more fish. He has been Hope’s faithful client since April 2008. Gabi is 28 years old and single. His dream is to make more business travels throughout the world.
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.