Béatrice began her business in 2004 selling a five-kilo bag of sugar. Her beginning capital was US$ 5. As she used to sell near a garage, she quickly noticed what the mechanics’ needs were. She then catered to their needs by buying and selling peanuts and cakes. Over the months, those mechanics become loyal customers. With hard work and good management, she used her profits to increase her inventory from one five-kilo bag of sugar to ten.
Béatrice joined "Beni", one of Hope’s groups, last September. The two loans she has received have helped her to diversify her business by beginning to sell loaves of bread. Beatrice’s business makes a profit of about US$ 40 per week. Her dream is to open a beverage store and a clothing shop. Beatrice’s strategies are based on keeping up good relationships with her customers and knowing their daily needs.
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.
About Congo (Dem. Rep.)
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Success!! The loan was 100% repaid