Meet Simon. Simon was among HOPE Congo’s first group of microfinance clients in Brazzaville. He sells sandals from a low table on a dusty street in the clothing district of Brazzaville’s largest and most important open-air market, Le Marche Total. He uses the modest profits from his business to help support a family of six people, including his first grandchild.
Simon has been selling sandals for quite some time now, but before working with HOPE Congo, he had never accessed a small business loan. He put his first loan to work to increase the selection and size of his inventory. Now, just a week after receiving his loan, his small stand is more eye-catching, and his stock sits a few inches off the ground on a low table. He is hopeful that he’ll be able to capitalize on what he learned through his biblically-based loan training sessions to make wiser business decisions and successfully repay his loan. One of the training elements that stood out to him most was HOPE’s emphasis on savings. “This is an advantage for clients, and it is unique,” he explains. “We are generally not encouraged to save. We spend money as we get it. I learned that if I plan and save, I will be able to do a better job with my business, and I will be able to repay, get more loans and grow.” Continue Reading…
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. 
