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Anonymous Group
In this Group: Anonymous, Anonymous, Anonymous, Anonymous, Anonymous, Anonymous
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Additional Information

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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About Kenya

  • $1,800
    Average annual income
  • 1019
    View loans »
    Kenya Loans Fundraising
  • $43,117,850
    Funds lent in using Kiva
  • 87.8
    Kenya Shillings (KES) = $1 USD
Paying Back - Delinquent
A portion of Anonymous Group's $13,425 loan helped a member to connect to the solar micro-grid installed in Nkoilale, enabling her to keep her boutique open later and charge customers’ phones to earn additional revenue.
12% repaid
Repayment Term
86 months (Additional Information)
Repayment Schedule
Irregularly
Disbursed:
Jul 1, 2014
Listed
May 30, 2014
Currency Exchange Loss:
Possible