Clinic runs a retail business to sell sugar, flour, washing soap, bathing soap, rice, and other basic commodities to surrounding villages. The business has been in operation for 5 years. He says the main challenges faced are lack of capital and low sales during the beginning of the year.
Clinic has requested a loan of 700 USD to purchase grocery products. He says the extra income generated as a result of this loan will allow him to improve the social status of his family. In the future Clinic plans to increase the number of his shops.
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.
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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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