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Divine Favour Group
In this Group: Sophia, Constancia, Mavis, Patricia
Greetings from Zimbabwe! This is 50-year-old Patricia from Mutare. She is widowed with six children, two of whom are attending school. She also cares for one other dependent. For the past 18 years, Patricia has run a retail business selling television sets, DVD players, home theaters, and clothes. Her main business challenges are late payments from her clients and high import duty.

Patricia is requesting a 500 USD loan to buy television sets, DVD players, home theaters, and clothes to sell. She is a member of a group loan request. Patricia says the extra income generated as a result of this loan will allow her to pay school fees for her children. In the future, she plans to have a 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.

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About Zimbabwe

  • $400
    Average annual income
  • 0
    View loans »
    Zimbabwe Loans Fundraising
  • $3,246,575
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD
Paying Back

This loan has been fully funded!

A portion of Divine Favour Group's $2,000 loan helped a member to buy television sets, DVD players, home theaters, and clothing.
71% repaid
Repayment Term
15 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Mar 25, 2014
Listed
Mar 28, 2014
Currency Exchange Loss:
N/A