In 1991 and 1993, Pierre was a victim of the lootings. All of his goods were taken away and leaving him bankrupt. After closing his business, Pierre and his family went through hard times and his future became uncertain until 1997 - 1998 when he re-launched his business with a capital of $ 100.
From 1998 - 2005, many companies closed due to the war and the political and economic instability in Kinshasa. Pierre lost most of his company clients. Pierre decided to change his business into clothing and miscellaneous goods. He started this clothing business in 2005 with a capital of US$ 300. He makes a profit of about US$ 200 per month. Currently, his working capital is US$ 1000. His ambition is to open a clothing shop and travel to Dubai on business. Pierre is 45 years old, married, and the father of two children, 15 and 17, both enrolled in school. He has been with Hope since last September.
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