François K., age 57, is the leader of a group of 30 micro-entrepreneurs called "Eden Plus". He sells drinks and other various items such as soap, cookies, canned food, etc. He's been running this business since 2003. His business is located in an outlying part of town, north of Kinshasa. François has been a loyal customer of Kiva's partner, the MFI Hope RDC, since 2008. He works hard to one day realize his dream: open a general store. At this time, his business turns a weekly profit of $70. With the next loan, he intends to buy 10 cases of beverages, and various other items to bolster his store. François is married and the father of 7 children, aged 7 to 30. Out of them, three attend school.
François K. 57 ans, est dirigeant de son groupe dénommé « Eden Plus » composé de 30 micro-entrepreneurs. Il vend des boissons et autres articles divers tels que du savon, des biscuits, boites à conserve etc… Il est actif dans son activité depuis 2003. Son affaire se situe dans la partie périphérique au nord de la ville de Kinshasa. François est client fidèle de l’IMF HOPE RDC depuis 2008. Il travaille durement pour réaliser son rêve d’ouvrir un jour un magasin général. Son affaire lui procure présentement un bénéfice de $70 par semaine. Il compte avec le prochain prêt acheter 10 casiers de boissons et de divers articles pour renforcer sa boutique. François est marié et père de 7 enfants dont leurs varient entre 7 et 30 ans. Trois d’entre eux sont scolarisés.
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.