After receiving their loans, the clients get a one-week grace period to apply the funds to their businesses (by purchasing more inventory, diversifying stock, renting more retail space, etc). Reimbursement meetings start two weeks after the original disbursal, allowing time for the infusion of capital to bear fruit for the entrepreneur in the form of increased profits. From that point on, clients meet every week for the remainder of the four-month loan period. Community banks come together for an hour and a half to make repayments, receive business training rooted in scripture, share concerns and seek counsel, and pray and fellowship with one another.
Latest update: 100% repayment from both community banks at today’s reimbursement meetings! The day was not without its hiccups, but every franc of scheduled repayments from Ebenezer and Bonne Semence (the Good Seed) was recovered, and clients made it clear that they’re serious about repaying. HOPE Congo’s staff is breathing a collective sigh of relief.
