Manish operates in the area where only 40% of the houses are electrified. He serves the rural households to improve their standards of living. Manish has 15 years of experience in serving the rural area. He has a good sales network and reachability in his area.
MLGS Telecom is now focusing on providing solar lighting to rural people. MLGS Telecom would like to help rural people improve their standard of living by supplying solar home lighting solutions. Manish is aiming to light 1200 houses in his area. He wants to extend the loan to the rural poor to buy solar home lighting systems and help them to improve their standard of living.
Manish’s vision is to serve the rural household to get access to lighting and safe drinking water by partnering with companies like Barefoot Power.
More information about this loan
The Reserve Bank of India has a number of regulations to control foreign funding of Indian institutions. We have performed considerable investigation to ensure that this Barefoot Power loan complies with these regulations.
Please be aware that, given the complex regulatory environment, there is a risk that we may encounter difficulty getting the repayments for this loan out of India. Should we encounter regulatory difficulties collecting the returns made by borrowers, Barefoot Power has agreed to repay the loan to Kiva lenders from it’s own funds.
Important InformationBecause Barefoot Power’s core business is not microfinance, there is some level of additional risk for lenders. Kiva’s partnership with the company is unique and unprecedented. For this reason, Kiva has not assigned the organization a risk rating.
Barefoot Power is a for-profit social enterprise dedicated to bringing solar lighting solutions to remote, low-income regions. The company offers Kiva-funded loans to its distributors and retailers to buy supplies, open stores, and sell high-quality, affordable lighting products to consumers in underserved communities. Access to renewable lighting reduces use of pricey, dangerous kerosene, and significantly improves household productivity and income potential.
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Success!! The loan was 100% repaid