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Great Ladies Group
In this Group: Esther, Gret, Doroth
Greetings from Zimbabwe! In this photo is 28-year-old Gret, from Mutare. Gret is a member of the group called Great Ladies. She is married and has two children, only one of whom is attending school. Gret runs a retail business, selling crating timber. The business has been in operation for five years. She says the main challenges faced in her business are high transport costs and, sometimes, they get timber of low quality from their supplier, which will take more time to sell.

Gret's share of the Great Ladies group loan is $600, which she will use to buy raw timber. She will process the timber and supply her clients. She says the extra income generated as a result of this loan will allow her to improve her family's general welfare. In the future, Gret plans to have her own sawmills.

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
  • 40
    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 Great Ladies Group's $1,800 loan helped a member to buy timber, to supply to people who are building their houses, in and around town.
100% repaid
Repayment Term
12 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jun 28, 2013
Listed
Jul 24, 2013
Currency Exchange Loss:
N/A
Ended:
May 17, 2014