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May 10, 2016 5:21 PM ET

Democratic Republic of the Congo - Siege De La Sagesse Group: A portion of Siege De La Sagesse Group's $9,950 loan helps a member to buy 50 cases of sugary drinks and 20 cases of Primus beer

iCrowd Newswire - May 10, 2016

Siege De La Sagesse Group

Goma, North Kivu province, Congo (Dem. Rep.) Food | Liquor Store / Off-License
Siege De La Sagesse Group
Marlaine is a businesswoman, member of the “Siège de la Sagesse” loan group and a customer of IMF Hekima. She is 40 years old, married and mother to six children, all of whom are at school. She sells drinks in a delivery warehouse in the town. She is going to buy 50 crates of sugary drinks and 20 crates of Primus (beer) in order to boost her business. She began her activity with capital from her husband when she was young. She would like to be able to build a house, educate and feed her children. Finally she thanks Hekima for the support it gives to entrepreneurs who cannot access bank funding.

Additional Information

Important Information

HEKIMA 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.