Banga Nzambe Plus Group
Marie started her business in 1980. Today, she makes loaves of bread and sells fresh fish at her place located east of the city of Kinshasa. She is a loyal client of IMF HOPE RDC who has already received 19 different loans and has repaid them properly. She intends to use the next loan to increase the inventory of her business by purchasing some sacks of wheat flour and some fresh fish and resell them with the aim of increasing her profits. Each week, her business brings in a profit of 50 USD. Her ambition is to open a cold storage facility.
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.
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Success!! The loan was 100% repaid