Update on BenoitteBenoitte is seeking a top-up loan of RWF 30,000 to purchase 10 additional rechargeable LED lights, which she will resell to people without electricity in her village. Every week or so, these customers will return to her to have their lights recharged for just RWF 100.
Benoitte started selling lights in February, 2012 and she has sold 50 lights to date, providing clean energy to 250 people. She is also a shopkeeper and will reinvest the money she makes into expanding her other business to earn more money for herself and her husband.
Previous Loan DetailsBenoitte is a 58-year-old woman from Kayonza District in the Eastern Province of Rwanda. She is seeking a loan of $50 to purchase 10 rechargeable LED lights, which she will resell to people without electricity in her village. Every week or so, these customers will return to her to have their lights… More from Benoitte's previous loan »
About Nuru EnergyNuru 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.
Watch the video below to see how it all works:
Concurrent and Successive Loans
Our Field Partners often work with borrowers over a series of loans as the borrowers build credit, take out bigger loans, and expand their businesses. In order to make it easier for our Field Partners to post loans for borrowers who have been listed on Kiva before, we allow them to post successive and concurrent loans for their Kiva borrowers. This means that our Field Partners are able to post a borrower's second, third, etc., loan on Kiva without having to re-enter all of the borrower's information.
This borrower has been listed on Kiva before, so you'll see an updated loan description, as well as excerpts of the original descriptions from earlier loans. Most borrowers take out loans consecutively, meaning that they receive a second loan after having repaid the first. However, sometimes our Field Partners give out concurrent loans, allowing borrowers to take out one primary loan and a secondary "add-on" loan along with it. These "add-on" loans are typically smaller than the borrower's primary loan and serve a different purpose. Because Field Partners can now post loans as successive and concurrent loans, you will be able to track borrower progress over time and see the various ways a borrower is working with our Field Partners through funds from Kiva’s lenders.
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Success!! The loan was 100% repaid
- Repayment Term
- 14 months (Additional Information)
- Repayment Schedule
- At end of term
- May 16, 2013
- May 30, 2013
- Currency Exchange Loss:
- Aug 17, 2013
Photo from previous loan
Kiva allows our Field Partners to re-use the same photo for individual borrowers that have been posted on Kiva's website once before in a 24 month period, and we allow them to re-use group photos for up to 24 months, provided that 80% of the current group's membership is represented.
Taking, collecting, and uploading photos of borrowers is one of the most challenging elements of using Kiva for our Field Partners. In order to make Kiva easier for Field Partners to use, we have allowed them to post successive and concurrent loans without taking a new photo of the borrower if the criteria above are met.