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Budiriro Chada Group
In this Group: Farai, Tinos, Simbisai, James, Shameonme
Greetings from Zimbabwe! This is 43-year-old Farai from Masvingo. He is married and has four children, one of whom is attending school. He also cares for one additional dependent. Farai runs a retail business and sells groceries and agricultural inputs, such as seeds and fertilizers. The business has been in operation for eight years. He says the main challenge he faces is transportation costs, which are too high.

Farai has requested a loan of $1,000 to buy groceries for resale. He says the extra income generated as a result of this loan will allow him to grow his business and maintain profitability. In the future, Farai plans to increase the number of his business outlets.

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 Budiriro Chada Group's $5,000 loan helped a member to buy groceries for resale, as well as beer and agricultural inputs.
100% repaid
Repayment Term
8 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Mar 20, 2013
Listed
May 2, 2013
Currency Exchange Loss:
N/A
Ended:
Oct 18, 2013