Fritz wanted to become a doctor but due to financial difficulties in his family only completed high school. He became a construction worker at a young age. He is married with three children and now he holds a role as a leader of the neighbourhood units in the area.
When he heard about Kopernik’s Tech Kiosk program, he immediately jumped on board; not only for its obvious business opportunities but he sees the technologies are simple, much needed and affordable. Clean water, safe methods of cooking, and affordable solar lighting are perfect solutions to a lot of the social and economic issues in his community.
Fritz will use the loan to buy stock and increase his income to make improvements to his home.
Photo description: Fritz is the one on the left. On the right sight is his wife who also helps him managing the kiosk.
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 Kopernik:Kopernik 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.
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Success!! The loan was 100% repaid