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Jimu1 Group
In this Group: Lazarus, Fast, Eusinate, Nency, Nacky, Siphathisiwe, Lucky , Nehemiah, Simbisai
Lazarus is a 37-year-old married man with six children ages one, five, seven, nine, 11 and 14. Three of his children still attend school. Lazarus occasionally supplies food to nearby elderly in his community. For the past 14 years, he has operated a flea market in Masvigo and he has one employee. Lazarus sells perishable goods and sometimes they become stale before they are sold, resulting in a financial loss. He has no other source of income.

Lazarus is requesting a loan to open a vegetable shop in town. He will use the profits from his loan to be able to look after his children. In the future, Lazarus intends to have a cold room where he can store his perishables.

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
  • 1
    View loans »
    Zimbabwe Loans Fundraising
  • $3,294,550
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A portion of Jimu1 Group's $2,250 loan helped a member to buy fruit and vegetables.
100% repaid
Repayment Term
8 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Nov 14, 2011
Listed
Dec 10, 2011
Currency Exchange Loss:
N/A
Ended:
Nov 20, 2012