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Ebenezer Group
In this Group: Beatrice, Ntombiyamaswazi, Evena, Grace
Greetings from Zimbabwe! This is 34-year-old Grace from Mutare. She is married with two children and one is attending school. She also cares for one other dependent. Grace runs a sewing business producing wedding gowns. The business has been in operation for seven years. She says the main challenges faced are low demand in winter seasons and stiff competition.

Grace has requested a loan of $600 to buy material for sewing gowns. She says the extra income generated as a result of this loan will allow her to improve general family welfare. In the future Grace plans to operate a big company with at least five employees. Grace is a member of Ebenezer group.

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
  • 11
    View loans »
    Zimbabwe Loans Fundraising
  • $3,271,800
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A portion of Ebenezer Group's $2,400 loan helped a member to buy materials for sewing wedding gowns and decorations.
100% repaid
Repayment Term
11 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Sep 23, 2013
Listed
Oct 23, 2013
Currency Exchange Loss:
N/A
Ended:
Aug 17, 2014