Motuya Plus Group
Thérèse is determined to be a successful businesswoman. She sells "pagnes" (lengths of brightly colored African print cloth) and plastic items at the market located mid-east of Kinshasa. She became a micro-entrepreneur in 1974.
Thérèse received already four loans from Microfinance Institution HOPE DRC and fully repaid them. She intends to use this loan to expand her inventory. She will buy more "pagnes" and resell them at a profit. Currently she earns a profit of US $30 a week. She will seek to make more profit by importing her products herself. Her dream is to become a "pagne" wholesaler.
Thérèse is 56 years old, married, and the mother of four children aged between 18 and 31 years old. Two of them attend 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.)
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Success!! The loan was 100% repaid