Psaumes Plus Group
Jean Claude started his business in 1987 with a capital of $15 selling pairs of slippers. After he went bankrupt from 2004 to 2006 because of theft, he decided to open a general boutique that he operates today. With hard work and determination, his business prospered. Jean Claude is happy to be part of one of Hope’s groups. He has already received six times the loans and his business has been reinforced through the loan he received. Jean Claude intends with the next loan to diversify his business by adding a cassava leaves pounder and other items to reinforce the inventory of his business in order to increase the profit. He is 48 years old, married and has four children between the ages of 1 and 27 of whom one goes to school. Currently, Jean Claude makes the profit of about $90 per week. His dream is someday to expand his business in different markets in Kinshasa. Jean Claude’s business is located in the western area 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