For 26 years, Faida has had a small business selling Primus beer and Fanta. She started with her own funds from her father. She just completed 17 cycles with the Hekima micro-loan program. She displays her merchandise at her home and sometimes on the roadside. Her major obstacle is that she makes her sales in the national currency (Congolese franc), which has sometimes experienced losses in exchange with the dollar.
With this new loan, Faida is going to stock up with 50 cases of Primus and Fanta. The rest of the money will be used for investments. She wishes to see her children finish their studies and to expand her business.
This client bravely salutes the microfinance institution Hekima for its actions favoring poor women excluded from traditional banks.
Important InformationHEKIMA is a microfinance institution headquartered in Goma, Democratic Republic of the Congo (DRC), with branch offices in Goma and Bukavu. HEKIMA aims to contribute to the transformation of the economic, social, and spiritual lives of the economically active poor of the DRC. To this end, HEKIMA provides its clients with solidarity group loans to support income-generating activities. Despite ongoing instability and violence in its operating areas, HEKIMA continues to keep its doors open and provide credit and savings services for its over 90% female clientele.
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.
About Congo (Dem. Rep.)
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Success!! The loan was 100% repaid