What to know about this Lending Partner
Kiva conducts regular, ongoing monitoring of all Lending Partners, but only posts status updates here in response to relevant, major changes at the partner.
Status update — December 6, 2017
Kiva and MicroCred China have agreed to end their partnership after 3 years and more than $300,000 in loans raised. This Lending Partner has repaid its outstanding balance to Kiva in full, and these funds have been distributed to lenders. We thank MicroCred China for the years of collaboration and wish them success in their future endeavors.
Microcred China (MC China) is an investment company based in Hong Kong that aims to increase access to financial services among residents living in rural areas of mainland China. MC China was established as an alternative solution for people who were being excluded from borrowing in traditional banks. MC China focuses its loans on rural borrowers and small and medium enterprises (SMEs).
A unique lending approach:
MC China's mission statement is to provide quality financial services that are accessible and adapted to the needs of the individuals who are underserved and unserved by the financial sector, particularly micro, small and medium entrepreneurs.
MC China targets farmers and small entrepreneurs in the Nanchong and Chengdu districts of Sichuan province. Clients in these districts are typically underserved by formal financial institutions due to informal business practices and small loan amount requests.
Funding from Kiva will support MC China to provide loans to SMEs and for women and young adults looking to start their first businesses.