Credit Constraints and Institutional Fit in Zambian Agricultural SMEs: Evidence from Makalanguzu Market in Choma

Purpose: This study examines how finance, regulation, market conditions, and government support shape agricultural small and medium enterprise growth at Makalanguzu Market in Choma, Zambia. Design methodology approach: A convergent mixed-methods design combined 71 usable survey cases, ten completed stakeholder interviews, and policy document analysis. A parsimonious regression tested credit constraints, policy and regulatory barriers, and the interaction between government intervention and market challenges. Qualitative themes were integrated with the statistical results. Findings: Credit constraints were negatively associated with growth (B = -0.312, p = 0.002), as were policy and regulatory barriers (B = -0.205, p = 0.015). Responsive government intervention showed a positive association (B = 0.187, p = 0.040), although this third result did not remain significant after Bonferroni correction. Interviews identified high interest rates, collateral demands, short repayment periods, weak sanitation, limited off-loading space, insecurity, drought and low awareness of empowerment programmes. Research limitations implications: The cross-sectional, single-market design and inconsistencies in the source dissertation's response accounting require cautious interpretation and raw-data verification before submission. Practical implications: Finance should match agricultural cash-flow cycles, while municipal levies should be linked to visible services, and district-level support should integrate credit, training, market infrastructure and follow-up mentoring. Originality value: The article develops an Integrated Competitive Adaptation Model that explains SME growth as the product of resource access, institutional fit and entrepreneurial response in a rural market setting.