Divine Servers Group
Angela has been experiencing financial difficulties due to the current unstable economic environment. As a result, she has been unable to meet demand from her customers, reducing her revenue and in turn, her profitability.
Angela’s husband passed away and she has been finding it difficult to take care of their three children as she is now their sole provider. With a Kiva loan, Angela will be able to supply her orders and improve her profitability. This will enable her to pay fees for her first born son who is in medical school as well as her two other children who are still in high school.
Angela and her friend, Margret live in the same area and attend the same church. They are both involved in youth enrichment projects run by the Anglican Church. They need a loan of USD800 in order to grow their businesses and better provide for their families.
About THRIVE:THRIVE Microfinance is a for-profit microfinance institution in Zimbabwe that was founded in 2012 by former Kiva Fellow Henry Bartram. The organization provides productive business loans that utilize the group lending methodology, lends only to women, and provides auxiliary training before and after loans.
The organization currently supports approximately 25 groups of women, with $190,000 outstanding. With Kiva’s support, THRIVE will strive to reach their goal of $350,000 by the end of 2014.
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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Success!! The loan was 100% repaid