In addition, Matano sells water to the local residents in order to increase his income. He describes his biggest business challenge to be building more houses for rental accommodations. He will use the KES 100,000 loan to purchase a water tank. Earlier on, Matano had taken a loan of KES 60,000, which he successfully repaid in full. His business goal is to build more houses to provide accommodations within five years. He hopes that in the future, he will educate his children using his profits.
More information about this loan
This loan is a part of SMEP's loan program to promote clean drinking water in partnership with Water.org. Called WASH (Water, Sanitation and Hygiene), this program offers three loan products:1) Loans designed to increase access to water. This includes financing for water tanks, water connections, water kiosks, pumps, filters, dispensers and catchment systems.
2) Loans for sanitation improvements. This includes financing for the construction of bathrooms, toilets, septic tanks, soak pits, pit latrines, disposal units and incinerators.
3) Loans for the drilling and construction of boreholes, shallow wells and water towers. This also includes the establishment and improvement of water treatment plants and chemicals.
WASH loan products carry greater risk than typical Kiva loans because they are used to fund non-income generating assets (in most cases), and therefore will need to be repaid with other sources of income. This income may already be contingent on other loans held by loan recipients.
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