Be Forward Group
Enterprising Marian heard about the opportunities offered at Thrive and enrolled for a loan and business training to complement her hard work. Marian says her previous loan from Thrive benefited her immensely as she now has ventured into another lucrative line of business. Marian has also added selling of pulling socks (pantyhose) to nurses, targeting up market medical institutions in Harare. Her notable clients are Rock foundation, Avenues Clinic, Westend Hospital, Baines Avenue Clinic among others. Marianne gets her stocks of pantyhose from South Africa.
Marian wishes to further her business and to be able to stock in larger quantities from the producers of the pulling socks (pantyhose). Marianne’s success in business has seen her being able to complement her husband financially in the household. She has been able to attain financial security and retain some savings.
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