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The Third Group
In this Group: Jane Beauty, Douglas, Maria Tendai, Edwick, Ndambiche
Jane is a 50-year-old widow. She has five children, four of whom have left home. She is now left with one dependent, aged 15, who is going to school and Jane is the one who has the sole responsibility for the school fees and the upkeep of the child.

Jane is a cross-border retailer who specializes in buying blankets, shoes, and clothing, and she wants to boost her business. She wants to use some of the funds to pay for high import duty fees which were recently imposed. The loan will enable her to improve their standard of living and to have more disposable income. In the future, she is intending to have her own shop and take on some staff.

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
  • $3,567,150
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A portion of The Third Group's $2,000 loan helped a member to buy blankets, shoes, and clothing.
100% repaid
Repayment Term
17 months (Additional Information)
Repayment Schedule
Irregularly
Pre-Disbursed:
Sep 22, 2011
Listed
Oct 23, 2011
Currency Exchange Loss:
N/A
Ended:
May 31, 2012