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N/A, direct to Power Control
Approved to post Kiva loans from: Tanzania
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 Field 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.
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