Total loan: $1,800

Itai Group

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Harare, Harare Province, Zimbabwe / Food

Itai Group's loan finished fundraising,
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A loan helped to buy a refrigerator so that she will be selling ice cold beverages, as we are in the summer season.

Itai Group's story

Patience is 40 years of age and lives in Warren Park, Harare. She is married and has 4 children. Two of the children traveled overseas to intensify their education and the other two are going to local schools.
Patience started business in 2002 as a cross-border trader. She traveled to neighboring countries to restock clothes and blankets. She had challenges to recover her revenue because she had lots of bad debts from credit sales. She thought selling on credit would maximize her sales but it turned out to be negative, due to the prevailing economic conditions. In trying to resolve the bad debt problem, she had to find a flea-market to rent in Norton where she would sell her products for cash. Her husband is in full support of the move and he helped with an additional capital to boost the business plan.

Despite receiving cash, the sales were declining every passing season due to increased competition because most people where resorting to the selling of clothes. This also resulted in a decline in the revenues realized.

As an entrepreneur, Patience noticed that most people need food more than they need clothes. She started operating a grocery stall. She specialized in dry groceries which she sold to local individuals and the business activity increased. She then wanted to diversify her lines of products and sell refrigerated products, but she had cash restrictions. She had to find financial assistance that would enhance her operations.

Patience joined Thrive together with her local friends to receive financial support and business advice. The group has applied for a loan of $1800. Patience wants to buy a refrigerator so that she will be selling ice cold beverages, since we are in the summer season and the demand for beverages has increased. In addition, she wants to restock variety of groceries to capture every customer who passes by her stall. With a Kiva loan, she will be able to increase her profit by selling more beverages and have more disposable income to support her family.