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Progress Group
In this Group: Constance, Merenziana, Virginia, Nyaradzo, Gladys
Constance is 29 and lives in Masvingo. She is married and her husband is a delivery driver for a local bakery. They have two children: one is at school and one is still at home.
Constance makes money in a variety of ways including the purchase and sale of blankets, clothes and chickens. She is also employed as a secretary for a government department.
She wishes to expand the poultry side of her operations and will spend the money she borrows to buy chicks and also to travel to South Africa to buy more goods for sale.
Over the next five years, she wishes to increase the space in which she raises her chickens and have an outlet to sell her products.

Additional Information

About MicroKing Finance

MicroKing's loans are guaranteed against institutional default (failure of MicroKing to repay Kiva lenders if the borrower repays MicroKing) by MicroKing's parent company: Kingdom Financial Holdings Limited.

More About MicroKing
This loan is administered by MicroKing Finance, Kiva’s first partner in Zimbabwe.

MicroKing’s mandate is to provide financial services integrated with advisory services and targeted training to the under-banked but rapidly growing Zimbabwean micro-enterprise sector. The intent is to mobilize the underprivileged as active agents in fighting poverty as well as to accelerate the country’s journey back to economic prosperity where Zimbabwe was once known as the “bread basket of Africa.”

Zimbabwean micro-enterprises are generally run by women and comprise a multitude of business types. Constraints on local production and manufacturing capacity have led to cross-border trading being the most common type of business.

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 Zimbabwe

  • $400
    Average annual income
  • 0
    View loans »
    Zimbabwe Loans Fundraising
  • $3,246,575
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A portion of Progress Group's $1,200 loan helped a member to buy chicks and clothes for sale.
100% repaid
Repayment Term
8 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Aug 25, 2011
Listed
Sep 27, 2011
Currency Exchange Loss:
N/A
Ended:
Mar 18, 2012