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Fast Move Group
In this Group: Irene, Tendayi , Nestah, Joy Beauty
Irene is 48 years old. She is a widow with five children aged 28, 25, 18, 15 and 10 years. Two of the children are going to school. She also has two other dependents, her uncle's children, whom she stays with.

She is into the business of poultry in Masvingo town. She has been in business for seven years. Irene has requested a loan of $250 to buy chicks and feed.

With the income from this loan she will be able to provide for her family and other community members. The challenge being faced in the business is that due to a heat wave some of the chicks died resulting in a loss. In the next five years she would like to have a bigger space to rear her chickens and a poultry shop to sell from.

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

  • $2,000
    Average annual income
  • 46
    View loans »
    Zimbabwe Loans Fundraising
  • $3,569,750
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A portion of Fast Move Group's $900 loan helped a member to buy stock feed, chicks, and medicines.
100% repaid
Repayment Term
8 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Dec 12, 2011
Listed
Jan 9, 2012
Currency Exchange Loss:
N/A
Ended:
Aug 1, 2012