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Glen View 4 Vendors Group
In this Group: Rumbidzai, Evelyn, Richard, Idah, Tobias
Greetings from Zimbabwe! This is 39-year-old Rumbidzai from Harare. She is married and has four children, two of whom attend school. She also cares for two dependents. Rumbidzai sells fruits and vegetables such as potatoes, tomatoes, onions, cabbages, and oranges. Her business has been in operation for 19 years. She says the main challenges she faces are lack of working capital and competition with other sellers. Rumbidzai's portion of her group loan is 700 USD. She will use the loan to purchase more vegetables and fruits for resale. She says the extra income generated as a result of this loan will allow her to increase the family's cash flow and quality of life. In the future Rumbidzai plans to have her own fruits-and-vegetables shop.

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
  • 59
    View loans »
    Zimbabwe Loans Fundraising
  • $3,423,350
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A portion of Glen View 4 Vendors Group's $3,000 loan helped a member to purchase farm produce for resale.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Mar 14, 2013
Listed
Apr 10, 2013
Currency Exchange Loss:
N/A
Ended:
Apr 16, 2014