Stella and her group mates help women in their community to empower themselves by giving them cooking lessons free of charge. During these lessons the women are taught how to bake pies and cakes as well as cooking other traditional foods. The group has raised money and bought an industrial stove which they use during the cooking lessons. They also rent a room in which they conduct the trainings. These women then go on to sell the food they cook in order to earn a living.
The Kupakwashe group needs a combined loan of $4650 from Kiva to finance their individual businesses and also to buy more industrial stoves as the one they have limits the number of women they can help at a time.
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