Check out some available loans that are similar to this one!
Michael
Michael, 49, is a farmer with eleven children from the farming area of Chibombo District, Zambia. He is asking for a Kiva loan to buy a water pump so that he can irrigate his farm.

Michael is an experienced farmer, growing watermelon, green maize, tomatoes, and onions for income. After a successful season supplying watermelon to a major market in Lusaka (the capital city), he has realized the need for a water pump to further expand his farm.

Equipment such as a water pump can be a major boost for many farmers such as Michael, as it allows for increased production and more predictable yields due to irrigation. Unfortunately, the upfront cost of such a water pump can be prohibitive, even for an ambitious and accomplished farmer such as Michael. Once Michael secures a loan, he will be able to get a water pump from Rent-to-Own, which will deliver the equipment to his farm, as well as provide training on how to use and maintain it.

With a water pump, Michael will be able to irrigate a larger portion of land in less time, increasing the quantity of fresh produce that he can grow. Michael added that he hopes to be able to grow his farm to one day have a water tank and sprinkler system, while being able to employ people from his community.

It is for this reason Michael is asking Kiva lenders to help him secure a water pump as soon as possible.

Additional Information

More information about this loan

This Kiva loan will be used to provide borrowers with needed goods or services, as opposed to cash or financial credit. 

About Rent-to-Own

Rent-to-Ownis a social enterprise that supports entrepreneurs in rural Zambia by providing financing and access to productive assets at low prices. The company uses a product catalogue for clients to purchase equipment needed to grow their businesses, and a network of local agents who leverage their social networks to decide if clients are credit-worthy.

Once clients are approved, Rent-to-Own provides a holistic set of services including delivery, installation, training, and repair services for their equipment to give clients the highest possible chance of succeeding. All equipment has a 30% mark-up over Rent-to-Own's purchase price. This mark-up covers all the logistical transportation costs that Rent-to-Own incurs in order to deliver the asset to the borrower, to provide training, ongoing support and to cover transaction costs. Kiva lenders’ funds are used to test new forms of asset financing to help more clients in new and innovative ways.

Rent-to-Own joined Kiva through our Experimental Partnership Program, and has therefore received a lighter level of due diligence. Accordingly, loans associated with this partner carry a higher level of risk than typical Kiva loans.

This Kiva loan will be used to provide borrowers with needed goods or services, as opposed to cash or financial credit.

About Zambia

  • $1,800
    Average annual income
  • 8
    View loans »
    Zambia Loans Fundraising
  • $857,225
    Funds lent in using Kiva
  • 5.3
    Zambia Kwacha (ZMW) = $1 USD

Success!! The loan was 100% repaid

A loan of $500 helped Michael to pay for a water pump that will be used to irrigate his farm.
100% repaid
Repayment Term
7 months (Additional Information)
Repayment Schedule
Monthly
Disbursed:
Jun 28, 2013
Listed
May 30, 2013
Currency Exchange Loss:
Covered
Ended:
Dec 17, 2013