From 1997 to 2000, the Equator province was invaded by the war from eastern Congo, and people were forced to leave their homes. He and his family moved to Mbandaka, the main town of the province. From 2000 to 2003, he continued running his business there with restriction due to the war. In 2004 he fell sick and was very often hospitalized for almost a year. He suffered from malaria and bronchitis. He used almost all of his business working capital for medical care.
After recovering, Ferdinand decided to change his business and started to sell lamp oil in 2005 once again with a working capital of US$ 15. He worked very hard, and with good management he increased his working capital to US$ 300 in 2007. After learning through a friend about Hope’s loan program, he decided to join one of its groups in the same year.
Ferdinand has already received five loans from Hope that he repaid correctly. With his next loan he plans to extend his business by adding others items such as bracelets and earrings. His dream is to purchase second-hand appliances from Europe and sell them in Kinshasa. Ferdinand is 52 years old and a father of 5 children between the ages 13 and 27 of whom four go to school and the oldest is independent. Ferdinand runs his business in the northeastern part 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.
About Congo (Dem. Rep.)
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Success!! The loan was 100% repaid