Israel Plus Group
His ambition is to open a wholesale store one day, and so he was driven to join a HOPE RDC group in August 2008 called “Israel Plus” in order to receive loans for supporting his dream. He obtained a loan three times from HOPE and has repaid them completely. The fourth loan he received in this past June was used to bolster the inventory in his shop by buying boxes of sardines, soaps, milk, sugar, baggies of Pure Water, etc. to resell with the goal of increasing his revenues. Currently, his capital amounts to $1,200 and the profits realized monthly come to $250.
Dégaule is 35 years old, married, and the father of three children, ranging in age from 4 to 9. Two of them go to school.
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