Check out some available loans that are similar to this one!
Kuwirirana Group
In this Group: Phillip, Nora, Juliet
This is 39-year-old Phillip from Harare. He is married with three children, two attending school. He also cares for his nephew. Phillip manufactures peanut-butter-making machines and also is in the peanut-butter-making business. The business has been in operation for 19 years. He says the main challenges faced are frequent power cuts and stiff competition with other sellers. Phillip has requested a loan of $500 to buy steel accessories and peanuts for making peanut butter. He says the extra income generated as a result of this loan will allow him to increase the family's cash flow and quality of life. In the future, Phillip plans to have his own metal fabrication workshop.

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
  • 55
    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 Kuwirirana Group's $1,500 loan helped a member to buy steel accessories and peanuts for making peanut butter.
100% repaid
Repayment Term
5 months (Additional Information)
Repayment Schedule
At end of term
Pre-Disbursed:
Apr 5, 2013
Listed
Apr 19, 2013
Currency Exchange Loss:
N/A
Ended:
Aug 17, 2013