He has a general dealership shop in Chipinge Branch in Zimbabwe. He has been running this business for 15 years, and sells his products to the local community. He has no other source of income. He says that the main challenge to his business is the lack of capital.
Silas requested this loan of $400 through MicroKing to boost his stock.
He says the extra income from this loan will help him have adequate stock, which will increase his sales. In future, he would like to purchase a truck for easy supply of his stock.
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.
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.
This is a Group Loan
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