Vagoni Vebasa Group
Naume is a married homeowner who has managed to send her children to school and develop her house from the proceeds from selling the chickens. She has 2 school going dependants and her husband does fitting and turning. Naume and her group have benefited from the trainings offered at Thrive as they have developed new good ways of managing their businesses. Naume approached other members to conduct ROSCAs and this idea has help support the up keeping of other members families.
With the Kiva loan can help her expand her fowl run and continue encouraging and giving other women in her community and church to work hard and develop their businesses.
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