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Update on Constance

Constance is a 22-year-old micro-entrepreneur. She lives in a rented house in the mining town of Chingola. She is engaged to be married this year and recently expanded her Zoona business after opening a new mobile money transfer shop in the nearby border town of Kasumbalesa.

This is Constance’s second loan; she used the money from her first loan to increase her working capital so that she could serve her customers who wanted to send larger amounts of money. She says the loan was very helpful in the growth of her business because she is now able to serve more customers who come to send and receive money from her Chingola outlet and no longer has to turn them away. Her earnings have also improved and she is excited about the growth of her business. She has even employed two more people to help her run the shops.

Constance is taking out another loan for her new shop in Kasumbalesa. The loan will be used as working capital float for her new outlet. Right now, the Kasumbalesa shop is working on a minimal working capital float of $1,000. This is not enough to satisfy the growing customer base in the thriving border town. The loan will help Constance grow her business.

In this picture, Constance (in the center) poses with her two employees.

Previous Loan Details

Constance is 21 years old. She would like to be in college and do what people her age do, but she can’t because she did not have the money to pay college tuition. Constance has not given up hope of ever going to college. She has started a business as a mobile money transfer agent in her home city... More from Constance's previous loan »

Additional Information

More information about this loan

This loan is a combination of the following: 1) Capital Growth Loan: An asset-based loan provided to both existing and new Zoona agents for setting-up or expanding their mobile transactions business. Part of the amount is an in-kind loan to enable agents to acquire assets for their mobile transaction business. For existing agents, the loan is designed to inject medium-term working capital assistance to purchase additional assets or expand to new locations thereby helping their businesses grow. 2) Electronic Float Advance: Short-term liquidity assistance to qualifying Zoona agents to allow them to make mobile money payments when their electronic balance is too low to meet their immediate business needs. The loan is intended to provide borrowers with a boost to their electronic float to allow them to handle more revenue generating transactions and also give them a means to support transactions during peak demands. The borrowers will be able to draw down their electronic advance on a per-transaction basis. There are no monthly repayments, rather the borrowers will earn less commission on per transaction basis on the funds utilized from the advance. Repayments will include fixed monthly repayments for the capital growth portion and a bullet payment at the end of an 18-month term for the electronic float advance. By supporting this loan, you’re helping an entrepreneur set up or expand their business.

About Zoona:

Zoona is a mobile money operator that invests in emerging entrepreneurs in Africa who provide underserved communities with financial inclusion. Zoona offers entrepreneurs an opportunity to build their own businesses and create wealth and employment through mobile payment solutions, financial services, business management tools and support. Kiva loans made through Zoona provide mobile banking service agents with funding for fixed asset purchases, setup expenses, and working capital float to ensure resources to manage cash in/out transaction requests.

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.


About Zambia

  • $4,100
    Average annual income
  • 18
    View loans »
    Zambia Loans Fundraising
  • $1,178,450
    Funds lent in using Kiva
  • 5.5
    Zambia Kwacha (ZMW) = $1 USD

Success!! The loan was 100% repaid

A loan of $2,750 helped Constance to increase her working capital so that she can grow her mobile money transfer business.
100% repaid
Repayment Term
20 months (Additional Information)
Repayment Schedule
At end of term
Aug 10, 2013
Jul 13, 2013
Currency Exchange Loss:
May 17, 2014