The client has been selling beignets and cakes out of her home for about 5 years. She started her business with a revolving credit line from a local development bank in the city of Goma.
Later on, she asked for support from IMF Hekima. She has just completed 22 loan cycles with Hekima's microfinance program.
She says that thanks to this loan, her children can study comfortably in the local universities.
The major challenge with her business has to do with having a small amount of capital. This new loan will help her buy wheat flower, yeasts, sugars, etc. The rest of the money will be used to pay for schooling fees for her children.
She would like to grow her business and would like to thank Hekima for their support and empowerment of female small business owners.
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