Faced with financial difficulties, Soursag-Yir Parfait has used this loan to buy five gas stoves, which he will resell in his area to improve the population's access to energy products. The loan will allow him to improve his income so that he can provide for his family and, most importantly, so that his children can go to school, as he is a married father of three children. He also hopes to become a leader for the environmental protection cause in his town.
Confronté à des difficultés financis, avec ce prêt, il a acheté 5 foyers à gaz qu’il va revendre au niveau de sa zone pour faciliter l’accès des populations aux produits énergétiques. Pour lui, ce prêt lui permettra d’améliorer ses revenus afin de subvenir aux besoins de sa famille et surtout permettre à ses enfants d’aller à l’école car Parfait est marié et père de trois enfants. En plus il envisage d’être un leader pour la cause de la protection de l’environnement au niveau de sa localité.
More information about this loan
This loan will help EdM provide energy-efficient wood or coal-burning stoves and gas stoves to retailers. EdM uses loaned funds to purchase stoves from local producers, then supplies the stoves to retailers on credit. Retailers, who typically own pre-existing small businesses and wish to add stoves to their inventories, are responsible for repaying the cost of the stoves to EdM in installments over the course of the loan term. These stoves help end users reduce their fuel expenses and avoid health complications caused by cooking over open fires. Since EdM pays the cost of transporting stoves from producers to retailers, and provides marketing support in the form of promotional posters and awareness-raising events, the organization adds a margin of between 4 and 7.5% to the cost the retailers pay for the stoves in order to make the project self-sufficient.
About Entrepreneurs du Monde (EdM)Kiva provides an important source of flexible, risk-tolerant working capital for social businesses in EDM’s network so that they can import and stock clean energy products to meet customer demand and positively impact health and the environment in impoverished communities around the world.
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Success!! The loan was 100% repaid