Margareth runs a clothing business where she sells clothes. The business has been in operation for one year. She says the main challenge faced is a lack of working capital.
Margareth has requested a loan of USD 500 to buy more clothes for resale. She says the extra income generated, as a result of this loan, will go towards the school fees of her children. In the future, Margareth plans to run a clothing shop where she will be employing at least three people.
About MicroKing FinanceMicroKing's loans are guaranteed against institutional default (failure of MicroKing to repay Kiva lenders if the borrower repays MicroKing) by MicroKing's parent company: Kingdom Financial Holdings Limited.
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This loan is administered by MicroKing Finance, Kiva’s first partner in Zimbabwe.
MicroKing’s mandate is to provide financial services integrated with advisory services and targeted training to the under-banked but rapidly growing Zimbabwean micro-enterprise sector. The intent is to mobilize the underprivileged as active agents in fighting poverty as well as to accelerate the country’s journey back to economic prosperity where Zimbabwe was once known as the “bread basket of Africa.”
Zimbabwean micro-enterprises are generally run by women and comprise a multitude of business types. Constraints on local production and manufacturing capacity have led to cross-border trading being the most common type of business.
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