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New Life Group
In this Group: Patience, Sibongile, Jennifer, Grace, Nakidzai, Neliah, Jane, Silibaziso, Memory
Sibongile has been in the transport business for two years. She provides hiring and commuting services in Shurugwi. She also imports shoes and clothes for sale. Her challenges are tough competition, lack of funds to buy spares, and stiff border controls.

Sibongile is 36 years old and lives in Shurugwi. She is married and has two children, ages 18 and 11. One is attending school.

Sibongile is requesting $400 US to buy spare parts and tires. With more income, Sibongile will be in a position to complete her house [currently] under construction. In the future, she plans to have a fleet of 10 mini buses and a shop in Shurugwi.

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

  • $2,000
    Average annual income
  • 42
    View loans »
    Zimbabwe Loans Fundraising
  • $3,547,400
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A portion of New Life Group's $3,600 loan helped a member to buy spare parts for her mini buses.
100% repaid
Repayment Term
8 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Sep 27, 2011
Listed
Oct 22, 2011
Currency Exchange Loss:
N/A
Ended:
Apr 16, 2012