Adidas is a 40-year-old man from Ngoma District in the Eastern Province of Rwanda. He is seeking a loan of $100 to purchase 21 rechargeable LED lights, which he will resell to people without electricity in his village. Every week or so, these customers will return to him to have their lights recharged for just $0.20. He will reinvest the money he makes into buying more lights to earn more money for himself and his wife.
About Nuru Energy
Nuru Energy is a for-profit corporation that encourages and provides renewable sources of energy in East Africa and India. The company’s POWERCycle generator supplies easy-to-use, off-grid re-charging for mobile phones and Nuru Energy’s portable modular LED lights, which can provide up to 10 days of light to rural households. Nuru distributes its lights through a network of village level entrepreneurs called VLEs. Each VLE sells lights to end consumers and can make additional income by offering recharging services with the Nuru POWERcycle.
Kiva lenders’ funds will be used to supply VLEs with lamps to sell in their communities. This Kiva loan will thus be used to provide borrowers with needed goods or services, as opposed to cash or financial credit. Kiva loans will be provided to Nuru VLEs at 0% interest, and each VLE will also be equipped with a POWERCycle to recharge lamps for customers on a regular basis.