Hungry Lions Group
With her first and 2nd loan from Thrive, Tsitsi has managed to grow her business and she now sews uniforms and wedding attires. Tsitsi has also established a brand name for her business, being “Chibvaruranhamo Tailoring Shop”, translated meaning Tearing Poverty Apart Shop. Tsitsi will use the money she borrows to change from using a small sewing machine to a heavy duty one. The growth of her business has also had a positive bearing on her personal life as she has managed on her own to send her oldest child to boarding school, providing her children with quality education.
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