Check out some available loans that are similar to this one!

Update on Paul

Paul, now 29 years old, has been running his Zoona money transfer business for three years. He got his first Kiva loan last year and has fully repaid it. The loan helped Paul to grow his business. He was able to serve more customers and make enough commissions from his first shop to open another mobile money transfers shop in his hometown of Kabwe. Today, Paul now has three employees.

Paul is requesting a second loan so that he can open a third mobile money transfer outlet in his hometown and continue to grow his Zoona mobile money transfer business. He says the Kiva loan will help him satisfy the demand from his customers. Paul is the only Zoona mobile money agent in Kabwe and this puts pressure on him to always have money to serve customers. He would like to open a third shop to meet the growing demand and reduce some of the congestion that has accumulated at his two other shops. Paul will use his Kiva loan to purchase a trading booth, hire two more people, purchase two phones and add to his working capital.

Paul would like to thank his Kiva lenders for their assistance. As a young micro-entropreneur in Zambia, he says working capital finance is very difficult to find and therefore, he has appreciated the opportunity to be linked to Kiva lenders. He is now renting a better house closer to his town where his businesses are located.

Previous Loan Details

Paul is 28 years old. He runs his own local mobile money transfer business which he has been running for one year now. He describes his business as simply the sending and receiving of money electronically. Currently, Paul does not have enough working capital. He is not able to serve customers who... More from Paul'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
  • 20
    View loans »
    Zambia Loans Fundraising
  • $1,185,700
    Funds lent in using Kiva
  • 5.5
    Zambia Kwacha (ZMW) = $1 USD

Success!! The loan was 100% repaid

A loan of $2,750 helped Paul to grow his Zoona mobile money transfer business by opening a new outlet in his hometown of Kabwe.
100% repaid
Repayment Term
20 months (Additional Information)
Repayment Schedule
At end of term
Aug 10, 2013
Jul 13, 2013
Currency Exchange Loss:
Dec 17, 2013