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Sunshine Stars Group
In this Group: Priscillah, Joylyn, Rosemary, Florence, Primrose
Greetings from Zimbabwe! This is 30-year-old Florence, a member of Sunshine Stars Group, from Mutare. She is married and has three children, two of whom attend school. Florence also cares for one other dependent. For the past 4 years, Florence has run a retail business selling televisions, dvds, beds and clothes. She says the main challenges faced are high custom duties at border posts and high transportation costs.

Florence has requested a loan of $400 to purchase television sets, dvds, beds and clothing for resale. She says the extra income generated as a result of this loan will allow her to improve the family's general welfare. In the future, Florence plans to own her own boutique shop.

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.

Tags

About Zimbabwe

  • $400
    Average annual income
  • 0
    View loans »
    Zimbabwe Loans Fundraising
  • $3,221,875
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A portion of Sunshine Stars Group's $2,000 loan helped a member to buy television sets, DVDs, beds and clothing for resale in Mutare.
100% repaid
Repayment Term
15 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Dec 27, 2013
Listed
Jan 7, 2014
Currency Exchange Loss:
N/A
Ended:
Feb 20, 2015