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Big Five Neighbours Group
In this Group: Betty, Miriam, Ruth, Promise, Nyarai
This is Betty, a 48-year-old married mother of four children from Zimbabwe. Two are still at school. She also cares for four other dependents from her extended family; among the dependents two are also still going to school.

Betty runs a business selling used clothes that she buys from South Africa and Mozambique. The business has been in operation for six years. Betty says the main challenge faced is stiff competition at the marketplace since some other traders have a wide range of stock.

Betty has requested a loan of $400 to buy clothes in bulk for resale. She says the extra income generated as a result of this loan will allow her to enhance the well-being of both families. In the future Betty plans to have a clothing shop selling new clothes.

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 Big Five Neighbours Group's $2,000 loan helped a member to buy used clothes for resale.
100% repaid
Repayment Term
8 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Nov 23, 2011
Listed
Dec 12, 2011
Currency Exchange Loss:
N/A
Ended:
Jun 30, 2012