Fidele K. sells cartons of eggs. He has to go out to deliver eggs to his clients and to look for new clients everyday. It is hard work, but he likes it. He has been in this business since 1995. Fidele fell sick in 1997 and was hospitalized. He lost most of his clients and his business closed, as there was no one to continue running it. In 1998, after his recovery, Fidele re-launched his business with $100 of capital. His business was too small and limited in size. Gradually and with the profit generated by his business, Fidele has increased his stock to 40 cartons of eggs. Last July he joined one of Hope’s groups named “Avenir,” meaning “Future” in English, and through the loan Fidele’s business has been strengthened. (Hope is Kiva's Field Partner.) With his next loan, Fidele plans to deliver eggs to clients four days per week instead of three. He wants to build a henhouse so that he can have variety of chicken products to sell to his customers. Fidele is 52 years old. He is married and the father of seven children, who are between the ages of 2 and 21.
About HOPE DRC
HOPE 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.