Biolite's loan finished fundraising,
but these similar borrowers just need a little more help to reach their goals!
A loan helped to provide clean cookstoves that charge phones for low income families in Uganda.
Nearly half the world's population still cooks on open smoky fires, causing over four million respiratory-related deaths annually—more than AIDS, malaria, and tuberculosis combined. They also emit more black carbon, the second-greatest contributor to climate change, than all of the world's cars and trucks.Solution
BioLite designs and manufactures personal-scale energy appliances that enable users to cook, charge, and light their lives off the grid. BioLite believes in a market-based business model that leverages the revenue generated from their outdoor recreation product line to support their emerging markets initiative where BioLite partners with 3rd party credit-enabled distributors. These partners provide consumer finance to sell products to off-grid, low-income customers within their channels. BioLite supports distribution partners by providing product demonstrations, customer training, and after-sales service. To date, BioLite has retailed 20,000 HomeStoves and 5,000 SolarHome 620 units, providing life-changing clean energy access to 125,000 people.Loan Use
This loan will enable BioLite to bridge the gap in cash-flows that exists between manufacturing their products and delivering them to off-grid, low-income customers.