Nkoilale 1 Group
Chrispian currently uses kerosene lanterns to light her home and the boutique. Kerosene is expensive and smells unpleasant, leading Chrispian to close the boutique in the evenings. With connection to the micro-grid, Chrispian will keep her shop open later and expand her business to include phone charging. Both of these will allow Chrispian to generate additional revenue, which she plans on saving so she can open her own hair salon in the near future.
The solar micro-grid will provide Chrispian a constant and reliable power source to use for lighting and other energy services, such as radios and phone charging. Chrispian will pre-pay for electricity in small bundles using her mobile phone. The solar system will require no maintenance from Crispian, and a large battery bank ensures there will be plenty of power, even on cloudy days. Chrispian will be spending less money on the micro-grid power than she was on kerosene. Furthermore, the solar micro-grid is a lot better for the environment and Chrispian’s health than smoky, toxic kerosene lanterns.
Aside from Chrispian, five other business owners in the village are also a part of the loan connecting to the micro-grid: Lillian, Joseph, Florence, John, and Mikai. They are all looking forward to having reliable power at an affordable rate, which they will also use to grow their businesses. The micro-grid will thus spur economic activity in Nkoilale and provide better and cheaper options for more residents to use energy to improve their lives.
More information about this loan
PowerGen is a Nairobi-based renewable energy enterprise, founded in 2013, that aims to improve access to electricity in rural regions of East Africa by providing communities with micro-grids. PowerGen seeks not only to reduce dependence on inefficient, expensive and harmful forms of energy (e.g. kerosene) but also to unlock the potential contained within these communities by supplying them with enough power to drive forward economic growth.
By partnering with Kiva, PowerGen will be able to provide micro-grids to communities on credit, thereby vastly increasing the organization’s impact. Kiva lenders’ funds will help PowerGen to provide in-kind micro-grid loans, which will be repaid over the loan term with the 2.7 cent fee that users pay per kilowatt hour. A 5-10% loan administration fee will be applied over the loan term.
This is a Group Loan
In a group loan, each member of the group receives an individual loan but is part of a larger group of individuals. The group is there to provide support to the members and to provide a system of peer pressure, but groups may or may not be formally bound by a group guarantee. In cases where there is a group guarantee, members of the group are responsible for paying back the loans of their fellow group members in the case of delinquency or default.
Kiva's Field Partners typically feature one borrower from a group. The loan description, sector, and other attributes for a group loan profile are determined by the featured borrower's loan. The other members of the group are not required to use their loans for the same purpose.
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This loan has been fully funded!