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Shalom Sisters Group
In this Group: Patience, Clara, Sibongile
Greetings from Zimbabwe! This is 32-year-old Patience from Harare. She is married with three children, two of whom are attending school. She also cares for one dependent. Patience is involved in buying and selling kids' shoes and kids' wear. The business has been in operation for seven years. She says the main challenge being faced is that of stiff competition from other sellers.

Patience has requested a loan of $500 to buy new kids shoes' and preparatory clothes for the winter season for resale. She says the extra income generated as a result of this loan will allow her to send her children to better schools and improve the family's standard of living. In the future, Patience plans to have her own 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

  • $400
    Average annual income
  • 3
    View loans »
    Zimbabwe Loans Fundraising
  • $3,226,375
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A portion of Shalom Sisters Group's $1,500 loan helped a member to buy kids' shoes for resale.
100% repaid
Repayment Term
7 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
May 29, 2013
Listed
Jun 9, 2013
Currency Exchange Loss:
N/A
Ended:
Nov 19, 2013