Check out some available loans that are similar to this one!
Paul is 28 years old. He runs his own local mobile money transfer business which he has been running for one year now. He describes his business as simply the sending and receiving of money electronically. Currently, Paul does not have enough working capital. He is not able to serve customers who want to send large amounts of money. This saddens him as he has to turn away customers and lose out on commissions.

He believes that his community benefits from his business because he offers them an easy and quick way of sending money and he works hard to give them the best customer service.

He has grown the number of transaction he does in a day. He has gone from only 10 transactions a day to an impressive 60. He has since managed to employ one person to help him in his shop. Paul describes his life as difficult; he is quick to say that he has not had it easy in life due to being orphaned at the young age of 10. He has not been able to pursue his education, but is grateful for the opportunity he has to run his own business and therefore gives it all he can.

Paul's appeal to his lenders is that they help him raise the money so that he can let his customers send larger amounts of money. He has dreams of opening more mobile money outlets in his town.

In this video, Paul is interviewed by a representative from Mobile Transactions.

Additional Information

More information about this loan

This loan is a combination of the following: 1) Capital Growth Loan: An asset-based loan provided to both existing and new Zoona agents for setting-up or expanding their mobile transactions business. Part of the amount is an in-kind loan to enable agents to acquire assets for their mobile transaction business. For existing agents, the loan is designed to inject medium-term working capital assistance to purchase additional assets or expand to new locations thereby helping their businesses grow. 2) Electronic Float Advance: Short-term liquidity assistance to qualifying Zoona agents to allow them to make mobile money payments when their electronic balance is too low to meet their immediate business needs. The loan is intended to provide borrowers with a boost to their electronic float to allow them to handle more revenue generating transactions and also give them a means to support transactions during peak demands. The borrowers will be able to draw down their electronic advance on a per-transaction basis. There are no monthly repayments, rather the borrowers will earn less commission on per transaction basis on the funds utilized from the advance. Repayments will include fixed monthly repayments for the capital growth portion and a bullet payment at the end of an 18-month term for the electronic float advance. By supporting this loan, you’re helping an entrepreneur set up or expand their business.

About Zoona:

Zoona is a mobile money operator that invests in emerging entrepreneurs in Africa who provide underserved communities with financial inclusion. Zoona offers entrepreneurs an opportunity to build their own businesses and create wealth and employment through mobile payment solutions, financial services, business management tools and support. Kiva loans made through Zoona provide mobile banking service agents with funding for fixed asset purchases, setup expenses, and working capital float to ensure resources to manage cash in/out transaction requests.

About Zambia

  • $4,100
    Average annual income
  • 20
    View loans »
    Zambia Loans Fundraising
  • $1,185,700
    Funds lent in using Kiva
  • 5,264.5
    Zambia Kwacha (ZMK) = $1 USD

Success!! The loan was 100% repaid

A loan of $4,950 helped Paul to increase his working capital so that customers can send large amounts of money from his shop.
100% repaid
Repayment Term
38 months (Additional Information)
Repayment Schedule
At end of term
Feb 21, 2012
Mar 6, 2012
Currency Exchange Loss:
Jan 15, 2013