Solubrite's loan finished fundraising,
but these similar borrowers just need a little more help to reach their goals!
A loan helped to purchase 540 pay-as-you-go solar products for distribution in rural Panama.
This is Solubrite’s second loan on Kiva. Their first Kiva loan of USD 30,000 was through the field partner Agora Partnership. The loan was used to purchase 305 PAYG products.
Over 600,000 individuals in Panama lack access to electricity. Most solar products in the market are unreliable, without warranty and no after sales service. The high upfront costs makes it risky for the customers to purchases these products.
Solubrite is a last mile solar energy distributor whose mission is to provide clean, affordable solar energy to rural families in Central America. Solubrite's Pay As You Go (PAYG) model allows even the poorest of families to purchase quality solar products on a lease to own model. Through an ecosystem of regional managers, sales agents and local entrepreneurs, Solubrite aims to scale its PAYG initiative and reach even the most financially vulnerable clients. To date Solubrite has impacted over 30,000 individuals in Panama with clean reliable solar energy.
Solubrite will use the loan to invest in inventory and expand its distribution network in the indigenous Ngabe Bügle region in Panama. This loan will help 540 families gain access to clean, affordable lighting.