Before she engaged herself in buying and selling, Axillia used to live a beautiful life until her husband left her for another woman. She started off by selling tomatoes for very little profit. After sometime, her son, who had previously gone with the husband, came to see her and gave her $50 which then helped her to start her poultry business. From there, her business started to improve. She also got a passport and started getting clothes and shoes from South Africa to sell.
Her friends encouraged her to attend business training offered at Thrive and this training has helped her to keep money in the business. Axillia is a 58 year old hard working women who stays in Budiriro, Harare. Since realizing that her poultry business is viable and profitable, she is confident that a Kiva loan can help her build a bigger fowl run as so far, she has used a small room indoors for keeping the chickens.
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.