Prophète Plus Group
Jean Pierre sells beverages in the eastern area of Kinshasa. He has been in the business world since 1994 selling palm oil. After much hard work and good management, he succeeded in making his business thrive thanks to the accumulated profits. He is happy to be one of MFI HOPE’s clients. He has already obtained and correctly repaid eight loans from this micro-finance institution.
He intends to reinforce his capital with the next loan by adding twenty crates of beverages. Currently, the business gives him a profit of US $50.00 per week.
Jean Pierre’s ambition is to open a soft drink facility in his area. He is 46 years old, married, and the father of four children whose ages vary between 4 and 15 years. Three 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.
About Congo (Dem. Rep.)
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Success!! The loan was 100% repaid