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Perseverence Group
In this Group: Annabella, Egina , Serina , Margret
Greetings from Zimbabwe! This is 40-year-old Margret, from Harare. Margret is a member of Perseverence Group. She is a divorcee with two children, one who is attending school. She also takes care of her mother and sister.

Margret is into buying and selling of electricals, such as televisions, radios, two-plate stoves, and DVD's. The business has been in operation for four years. She says the main challenges faced are duties charged on the border posts and also liquidity in the economy.

Margret has requested a loan of USD 500 to purchase more electricals for resale. She says the extra income generated as a result of this loan will enable her to send her children to school without hassles. In the future, Margret plans to have her own electrical shop in town.

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
  • 42
    View loans »
    Zimbabwe Loans Fundraising
  • $3,546,400
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A portion of Perseverence Group's $2,000 loan helped a member to buy electricals from South Africa and Botswana for resale.
100% repaid
Repayment Term
9 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Feb 25, 2013
Listed
Mar 26, 2013
Currency Exchange Loss:
N/A
Ended:
Oct 18, 2013