Ledwin runs an agriculture business of selling chickens. The business has been in operation for 10 years. The challenge she faces in her business is the death of chicks due to some diseases. Ledwin has requested a loan of $800 to buy an additional cage for her chicks, more chicks, and stock feed. She says the extra income generated as a result of this loan will allow her to increase her business and income, which will enable her to send her children to good schools. In the future, Ledwin plans to have a large poultry structure that can house over a thousand birds.
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
In a group loan, each member of the group receives an individual loan but is part of a larger group of individuals. The group is there to provide support to the members and to provide a system of peer pressure, but groups may or may not be formally bound by a group guarantee. In cases where there is a group guarantee, members of the group are responsible for paying back the loans of their fellow group members in the case of delinquency or default.
Kiva's Field Partners typically feature one borrower from a group. The loan description, sector, and other attributes for a group loan profile are determined by the featured borrower's loan. The other members of the group are not required to use their loans for the same purpose.
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Success!! The loan was 100% repaid