Fidélité Plus Group
Jean is married, 48 years old and operates a general store in eastern Kinshasa. He started his business in 2001 by selling palm oil and has used five loans from Hope (a Democratic Republic of Congo microfinance program) to buy more items to sell to his customers. Because demand for his products is high, he will use his portion of this group loan to buy more items to sell to his customers and continue expanding his business. He earns about $240 a week and devotes most of his income to meet the needs of his eight children, who range in age from 9 and 24 years old. All of them are currently enrolled in 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.
About Congo (Dem. Rep.)
15View loans »
Success!! The loan was 100% repaid