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Loti
Loti, 28, has four children and is a farmer in Nyimba District, Eastern Province, Zambia. He currently grows cabbage, fresh greens and tomatoes to sell at local markets. He is asking for a Kiva loan so that he can obtain a water pump for irrigation.

Water pumps can be a major boost for farmers in Eastern Province such as Loti, who often struggle to irrigate their crops due to irregular rains. A water pump allows for farmers to water their crops more regularly, while also increasing the area they are able to cultivate. Unfortunately, the upfront costs of such a water pump can be very prohibitive. Once he secures a loan, Loti 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.

Loti hopes that this new pump will allow him to significantly increase the area he can cultivate, especially for cabbage. It is for this reason he is asking for a Kiva loan so he can obtain 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
  • 5.6
    Zambia Kwacha (ZMW) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $525 helped Loti to obtain a water pump for irrigation.
99% repaid
Repayment Term
8 months (Additional Information)
Repayment Schedule
Irregularly
Pre-Disbursed:
Oct 21, 2013
Listed
Nov 12, 2013
Currency Exchange Loss:
Possible
Ended:
Aug 18, 2014