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Pear Group
In this Group: Coleen, Judith, Burlington D
Greetings!!! This is Coleen is from Bulawayo. She is 43 years old, and is married, with 2 children. The eldest is doing Advanced Level and the younger one Ordinary Level. The client operates a catering business. She works at designated places and services the surrounding industrial market. She has been doing this business for the past 15 years. Coleen is requesting for a loan of $2250, so that she can purchase more catering equipment, which includes, plates. spoons and forks since her market is growing, and she intends to open a small restaurant in the Central Business District. This will mean that she will be exposed to a wider market, which can boost her profits or income. With the income generated from this loan, Coleen will be able to pay school fees and buy food for her family, since she is not employed and relies on self help. It will also go a long way in enabling her to set up her restaurant which she plans to open after she finishes paying the current loan.

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
  • 2
    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 Pear Group's $2,250 loan helped a member to replenish stock as well as buy additional equipment for use in the business, for example more cutlery,.
100% repaid
Repayment Term
8 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jun 10, 2012
Listed
Aug 16, 2012
Currency Exchange Loss:
N/A
Ended:
Dec 15, 2012