Entrepreneurs We've Helped
Name: Lavodi Group
Location: Kinshasa, The Democratic Republic of the Congo
Activity: General Store
Loan Used: To develop his decorating business by purchasing some appropriate tools etc.
Description: Charles is 47 years old. He began his business in 2001 selling containers of 25 liters of palm oil. He started with 40 containers of 25 liters of palm oil. In 2002, the main Matadi Road that linked Kinshasa to the village where Charles used to purchase palm oil was washed out, blocking access to his supply of palm oil. Charles got stuck the other side of the washed-out road, together with all his goods, for four months. Some of his goods spoiled and he lost much money.
When he returned to Kinshasa in 2003, Charles did not have enough capital to re-vitalize his business. He then decided to begin doing interior decoration of people?s houses which allowed him to have some capital to open a general store. Charles now wants to develop his decorating business by purchasing some appropriate tools for interior decoration. He is also planning to diversify his general store by adding fresh foods.
About Group Loans
In a group loan, each member of the group receives an individual loan but is part of a group of individuals bound by a group guarantee. Under this arrangement, each member of the group supports one another and is responsible for paying back the loans of their fellow group members if someone is delinquent or defaults.
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