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Urban Traders Group
In this Group: Rosemary, Caroline, Ebron
Rosemary is a single lady aged 39 .She has two children aged 15 and 19. She lives in Kwekwe Urban with two other dependants who are orphans. Both her children and the two dependants attend school in Kwekwe.
Rosemary buys and sells cellphones and accessories in a rented shop in Kwekwe. She has two employees who assist her in selling her products. She has operated her business for the past five years. The major drawbacks in the business are high competition, seasonal sales fluctuations, and high rentals which end up eating away all the profits realized from the sale of her products.
Rosemary sees her business growing to a larger scale in the next five years so she will need a very big place to put and display her products. If the business grows, then she will be in a position to send her children and other dependants to better schools that offer quality education. She will also build her own house and shop and stop paying excessive rentals.

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
  • $3,221,875
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A portion of Urban Traders Group's $1,200 loan helped a member to buy cellphones and accessories.
100% repaid
Repayment Term
8 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Nov 11, 2011
Listed
Nov 29, 2011
Currency Exchange Loss:
N/A
Ended:
May 21, 2012