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Wisdom Group
In this Group: Shungu, Precious
Precious is a 35 year old grocery store owner. Precious is a member of Wisdom Group and their group is now on their fourth loan cycle with Thrive microfinance. With her first loan from Thrive Precious managed to enlarge her small market stall introducing more products. With her following loans Precious managed to move and grow from a small roadside stall to a wholesale and retail shop that she now operates. Precious now wholesales groceries to other vendors’ around Gazaland Township where she operates from.

Precious has also managed to complement her husband in their family income and has bought a residential stand that they are currently building and developing. Precious is planning to restock in bulk with her loan and fully restock her shop so that she can cater to her clients as she has a high demand for her groceries. Precious also aspires to further grow her business and become a big wholesaler, creating new jobs in her community in the process.

Additional Information

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.

Tags

About Zimbabwe

  • $2,000
    Average annual income
  • 0
    View loans »
    Zimbabwe Loans Fundraising
  • $3,458,725
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A portion of Wisdom Group's $1,900 loan helped a member to purchase groceries and other products for resale.
100% repaid
Repayment Term
8 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jul 29, 2014
Listed
Aug 17, 2014
Currency Exchange Loss:
N/A
Ended:
Feb 17, 2015