November 24, 2010
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Kiva Commitment Loan #3
I couldn't wait ya'll! I'm so bad at waiting when it comes to doing my next Kiva loan. I had $8.47 in credit this time so I didn't end up spending $25 of my own money, but I am not going to get that technical about it with my commitment.
Anywho, I chose a group from the Democratic Republic of Congo this time. A large group with a short repayment term. While I'm starting to do this, I'm choosing most of my loans with short repayment terms so that come April and May I'll be having LOTS of the funds I've put in returned to me for re-lending. Maybe as I keep going I'll pick some longer term loans again.
Here they are!
John Beya, aged 41 and married, was elected as the president of the Community Bank named “CPK II Plus”, which consists of 19 members united in solidarity to receive loans from Kiva through IMF HOPE RDC with the goal of developing their businesses.
John sells iron bars, pipes, etc. at the market located west of Kinshasa. He started his business in 1990 by selling duplicating paper. John is happy right now as he is going to be able to buy iron bars and water pipes with the loan, have a greater range of stock, and be able to meet his customers' demand.
John makes a profit of US$100 per week. With the money he earns, he hopes to provide financial support for his family. His dream is to someday open a hardware and a clothing store. John has four children aged between 3 and 11 years. Three of them go to school. He also takes care of five children left by his relatives.
