Norah was introduced to the solar products through Brazafric's business linkages with Technoserve at a youth open day. She appreciates the benefits that accrue from the use of lanterns and with the Kiva financing option from Brazafric, Norah is seeking to purchase the solar products for stocking and reselling to her community. Norah highlights that she would also buy the solar lanterns so that she could increase her working hours at her shop. With the solar lamps there are no extra costs on kerosene and she can use the solar energy for lighting and charging her mobile phone.
More information about this loan
To make repaying loans more convenient for borrowers, Kiva will accept "bullet payments" -- single lump payments -- at the end of loan terms, rather than weekly or monthly payments. This gives BrazAfric the ability to tailor repayment schedules to individual clients.
This Kiva loan will be used to provide borrowers with needed goods or services, as opposed to cash or financial credit.
Important InformationAside from its newly-established Vendor Financing Department, BrazAfric’s core business is not microfinance or finance. Thus, there is some level of additional risk for lenders that does not exist with financial institutions. Kiva’s partnership with the company is unique and unprecedented. For this reason, Kiva has not assigned BrazAfric a risk rating.
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