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Nicholas
Greetings from Harare. This is 40-year-old Nicholas. He is married with two children, one of whom attends school. Nicholas runs a retail business where he sells electrical equipment. The business has been in operation for three years. He says the main challenge he faces is the lack of capital. Nicholas has requested a loan of $1,000 to buy more electrical equipment like televisions, radios and irons. He says the extra income generated as a result of this loan will allow him to finish the construction of his family house. In the future, Nicholas plans to own a big electrical shop.

Additional Information

About MicroKing Finance

MicroKing'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.

More About MicroKing
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.

About Zimbabwe

  • $2,000
    Average annual income
  • 42
    View loans »
    Zimbabwe Loans Fundraising
  • $3,546,400
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $1,000 helped Nicholas to buy more electrical goods.
100% repaid
Repayment Term
8 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Apr 15, 2013
Listed
May 1, 2013
Currency Exchange Loss:
N/A
Ended:
Nov 19, 2013