Les Enfants Unis 2 (#2) Group
He has operated this business for one and a half years. He purposely located himself in a specific community where there was not a butcher shop. He feels this has been an important factor in his business' success.
Silvere will buy a refrigerator and a small generator. The electricity in Brazzaville is unreliable and, if it is off for too long, his meat will spoil. The generator will allow him to keep his freezers and refrigerator running even if the electricity goes out.
Silvere has received three previous loans from Kiva's partner, HOPE Congo. He has a very good repayment record. As he continues to grow, he wants eventually to transport live fish to Brazzaville from the coast. This will allow him to stock a greater variety of fish as well as offer very fresh fish to his customers. He hopes that his two boys will be successful and wants to be able to provide them with a good education.
About HOPE Congo S.A.: HOPE Congo S.A. is a start-up microfinance institution located in Brazzaville, Republic of the Congo. As of 2009, the Republic of the Congo was the 136th-ranked country in the United Nations Development Programme’s Human Development Index. The average life expectancy is in the low 50s and food insecurity poses a constant threat to ordinary people’s well-being. Through the creation of community banks, HOPE Congo provides credit, savings, and training for entrepreneurs in Brazzaville. With their services, they aim to nourish a culture of saving and an independent community of responsible and self-sustaining entrepreneurs.
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 (Rep.)
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Success!! The loan was 100% repaid