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Donny Magochar Group
In this Group: Melody, Memory, Benhilda, Donny, Priscilla
Donny is 30 years old. She is a single mother with 2 children ages 7 and 3 years old. Only one child is going to school. She does not have any other dependents she stays with.

She is in the business of selling cooked sausages to people in her community. She has been in this business for 3 years and she operates her business from Rujeko in Masvingo. She has requested a loan of $150.00 to buy sausages, cooking oil and a few dollars to fill her cooking gas stove. With the income from this loan Donny will be able save for her children's future. She buys her products from Harare. The challenges she faces include proper shelter to do her business from, because during the rain season the place becomes very muddy and during summer season the place becomes very hot . She is planning to get a stall from the authority to operate in a much better place during any time of the year.

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
  • $3,297,650
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A portion of Donny Magochar Group's $1,050 loan helped a member to buy sausages and cooking oil and fill her gas stove.
100% repaid
Repayment Term
8 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Dec 6, 2011
Listed
Jan 1, 2012
Currency Exchange Loss:
N/A
Ended:
Aug 1, 2012