Update on LibertinaLibertina has successfully paid back a Rp 10.000.000 loan in just four weeks! She achieved this through sales of a micro-solar lighting system that can connect up to four light bulbs and has two USB ports for charging phones and running a radio.
To help her continue operating her business, she is requesting Rp 20.000.000 loan. She will use the loan to buy more stock of green technology products and provide solutions to her customers’ problems: difficult access to clean water and frequent power cuts on the island of Sabu, off the coast of West Timor.
"Since I moved to Kupang decades ago, I rent a semi-permanent building that is used for kiosk, bedroom, and kitchen. I dream to have my own house where my kids can have bigger space to do their activities such as studying and playing. Few years ago, I borrowed money from the cooperative to buy a land. The last installment from this loan was paid using the money I got from Tech Kiosk business. Now on that land, my husband and I start to build a simple house that is nearly done. All profit I got from this business is allocated to buy materials for the building."
Libertina is grateful for the support to increase earnings to complete her new home.
Previous Loan DetailsLibertina previously accessed an Rp 3.000.000 loan to purchase green technology products to sell in her community. She successfully sold around 10 technologies in two months and more than doubled her earnings. To help her continue operating her business, she is requesting another Rp 10.000.000 l... More from Libertina's previous loan »
More information about this loan
This loan will help Kopernik to provide its network of independent re-sellers with inventory for simple, life-changing technologies, as opposed to cash or financial credit. Retailers will receive products such as water filters, solar lamps, efficient cookstoves, micro irrigation systems, corn shellers, milk pasteurizers, clean birth kits, infant warmers, mosquito nets and solar hearing aids.
These retailers typically own pre-existing small businesses and wish to provide their communities with these technologies. They are responsible for repaying the cost of the products to Kopernik over the course of the loan term.
Kopernik will collect repayments from retailers each month based on their sales and this money will be returned to Kiva lenders. However, since actual sales are difficult to predict in advance, the repayment schedule on Kiva has been listed with only a single bullet repayment at the end of the term. This structure gives the retailers flexibility to repay on a schedule that works for their individual business needs.
About KopernikKopernik is a nonprofit organization that helps rural retailers in Indonesia sell simple, life-improving technologies to their communities. Founded in 2009, it connects technology makers with local partners in remote areas to address needs like clean water, electricity, food security and healthcare. Kiva funding will enable retailers to purchase more inventory at a better price, thereby increasing the distribution of life-improving technologies in rural communities.
Kopernik 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.
Concurrent and Successive Loans
Our Field Partners often work with borrowers over a series of loans as the borrowers build credit, take out bigger loans, and expand their businesses. In order to make it easier for our Field Partners to post loans for borrowers who have been listed on Kiva before, we allow them to post successive and concurrent loans for their Kiva borrowers. This means that our Field Partners are able to post a borrower's second, third, etc., loan on Kiva without having to re-enter all of the borrower's information.
This borrower has been listed on Kiva before, so you'll see an updated loan description, as well as excerpts of the original descriptions from earlier loans. Most borrowers take out loans consecutively, meaning that they receive a second loan after having repaid the first. However, sometimes our Field Partners give out concurrent loans, allowing borrowers to take out one primary loan and a secondary "add-on" loan along with it. These "add-on" loans are typically smaller than the borrower's primary loan and serve a different purpose. Because Field Partners can now post loans as successive and concurrent loans, you will be able to track borrower progress over time and see the various ways a borrower is working with our Field Partners through funds from Kiva’s lenders.
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Success!! The loan was 100% repaid