N/A, direct to Power Control

N/A, direct to Power Control

Lending Partner since 2018 • Tanzania
Fundraising Status:closed
Risk Rating:

What to know about this Lending Partner

Impact Category:
Clean Energy
Default Rate:
100%
Currency Exchange Loss Rate:
0%
Total Loans Raised:
$50,000
Loans at Risk Rate:
0%
Kiva Borrowers:
2
Delinquency Rate:
0%
Interests and Fees:
N/A
See all previous loans See all fundraising loans

Status update - November 3, 2020

PowerControl has faced serious operational problems linked to faulty Solar Home Systems products. Those problems were compounded by the Covid-19 pandemic which has slowed the business' activities considerably. Despite PowerControl drastically cutting down on operational costs, the company hasn't generated any revenue and prospects for loan recovery are minimal. Because of the lack of clarity in future payments, we are defaulting this loan. Kiva will try to stay in touch with PowerControl and hopes to be able to share better news in the near future. If/when PowerControl does make repayment to Kiva, they will be passed along to lenders.

There is no Lending Partner for this loan. It is part of the Direct to Social Enterprise program. For more details on DSE, please click here. For more details on the borrower, please refer to their loan profile.