He is a trained clinical officer and works at the community health center. He is the third born in a family of five and takes care of his parents and two siblings.
Julius ventured into the retail trade in 2011 to trade in mobile phone accessories and general merchandise, since his employment income was not sufficient to take care of his extended family. He later partnered with a local telecommunications company to offer mobile money transfer services to the community from his shop. He has employed one shop attendant to coordinate the money transfer services and attend to customers in need of other products from the shop. The business has been doing well so far.
In response to the recurring costs and health effects associated with candles and paraffin lamps that are commonly used in the area, Julius introduced the solar lanterns from BrazAfric in the year 2012. Electricity is only available at shopping centers and therefore the products got a very good reception because of their economic and social benefits. They provide safe and bright lighting and come with a mobile phone charging function. Their demand has since gone up and now he cannot buy adequate stocks to meet the demand.
Julius has been buying the lanterns for cash. From the Kiva financing option at BrazAfric, he is now seeking financing to purchase the solar lanterns for stocking and selling to the community. He has a good rapport with the area residents and predicts that, based on the economic and social benefits and previous performance, the solar lanterns will sell fast and boost his income.
More information about this loan
To make repaying loans more convenient for borrowers, Kiva will accept "bullet payments" -- single lump payments -- at the end of loan terms, rather than weekly or monthly payments. This gives BrazAfric the ability to tailor repayment schedules to individual clients.
This Kiva loan will be used to provide borrowers with needed goods or services, as opposed to cash or financial credit.
Important InformationAside from its newly-established Vendor Financing Department, BrazAfric’s core business is not microfinance or finance. Thus, there is some level of additional risk for lenders that does not exist with financial institutions. Kiva’s partnership with the company is unique and unprecedented. For this reason, Kiva has not assigned BrazAfric a risk rating.
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