Florencia has a little rural shop, where she makes a regular income of $10 USD a day. Whenever the formal grid service fails (which is very often), Florencia is unable to carry on with her sales and therefore she loses clients and money. By purchasing a solar home system, Florencia will be able to open her little rural shop and continue to offer products to her customers. This will increase her income and improve the standard of living for her 5 children. Florencia has also expressed that having access to a clean energy source will help her children do their homework without the use of candles. The entire family is excited by the possibility of having access to this technology.
About ERES Energía RenovablesERES Energía Renovable is a hybrid social enterprise that provides clean energy via solar-powered home systems in off-grid communities in Mexico. Kiva loans enable low-income households to purchase these systems. By lending to borrower groups that cross-guarantee each other, ERES Energía Renovable is able to reach far more borrowers who do not have the collateral or credit history to get a loan from a formal financial institution.
This Kiva loan will be used to provide borrowers with needed goods or services, as opposed to cash or financial credit.
ERES Energía Renovable 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 is a Group Loan
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