Shandirai runs a clothing business, producing clothes. The business has been in operation for five years. She says the main challenge she faces is the high rental being charged on their business premises, which tend to wipe out her profits.
Shandirai has requested a loan of $500 (USD) to buy fabric material for making clothes, which she sells in the retail market. She says the extra income generated as a result of this loan will allow her to increase her output, which will in turn improve her profits. Then she might be able to buy her own building and do away with the high rental. In the future, Shandirai plans to own her own premises.
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.
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