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Vanilla Rose Group
In this Group: Ellen, Esnath, Munashe
Ellen resides in Kwekwe with her family. She is aged 36, married, and has five children aged 20, 16, 14, 13 and two. She takes care of two other dependents, who are school-going age. Four of her children attend school. Her husband is self-employed and assists his wife by bringing in additional income.

Ellen operates from a flea-market at Kwekwe, a small town near Gweru. Her flea-market has been in existence since 2003. She mainly specializes in products like shirts, footwear, suits, jeans, t-shirts, dresses and African attire. She has taken a loan of $400 which she used to purchase 20 pairs of footwear, 10 pairs of slippers, tuckies (sports shoes), clothing and cosmetics.

The main challenge she faces is that of high competition and theft by her employees. With a bigger business, she looks forward also to having her own boutique and saloon. She will also be able in a position to purchase household goods, look after her parents, send her children to better schools and improve her family's lifestyle.

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
  • 3
    View loans »
    Zimbabwe Loans Fundraising
  • $3,226,375
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A portion of Vanilla Rose Group's $1,200 loan helped a member to buy shirts, footwear, suits, jeans, t-shirts, dresses, skirts, and African attire.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Irregularly
Pre-Disbursed:
Nov 3, 2011
Listed
Nov 29, 2011
Currency Exchange Loss:
N/A
Ended:
Jun 16, 2012