Manassé Plus Group
Bibi sells variety of foods such as squashes, caterpillars, beans, mushrooms, and miscellaneous. She became a micro entrepreneur in 1988. Her business is located in the eastern area of Kinshasa. She has already received twelve loans from Microfinance Institution HOPE DRC and fully repaid them.
She intends to use this loan to expand her inventory. She will buy some sacks of beans, caterpillars, mushrooms, squashes, and miscellaneous to resell at a profit. Currently she earns a profit of US$90 per week. Bibi is fifty-seven years old, married and the mother of an eighteen-year-old son who attends school. Her dream is to someday open a cold room to keep fresh food in her environment.
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