Go green with Kiva! Fund an eco-friendly loan for Earth Day.
Total loan: $30,000
Lima y San Martín, Municipalidad Metropolitana de Lima, Peru / Wholesale
Flag of Peru
Paul's loan finished fundraising,
but these similar borrowers just need a little more help to reach their goals!
A loan helped to purchase approximately 5,000 units of solar products, primarily small solar lamps with charging capabilities.
PowerMundo is a Peruvian social enterprise that delivers life-enhancing solar energy solutions to off-grid communities to help people improve their lives. The main challenge PowerMundo faces is the lack of access to capital and the financing needed for solar product inventory. With this support from lenders like you, PowerMundo will be able to purchase an additional 5,000 solar products over the next eighteen months, greatly increasing its inventory, allowing more products to be distributed by micro-entrepreneurs, and ultimately improving the lives of remote customers through access to clean energy. Over 4 million Peruvians do not have access to electricity and must use candles, flashlights, and diesel lanterns to light their homes. As a result, many people suffer from burns and respiratory illnesses, and face high energy costs and limited productivity - all of which perpetuate a cycle of poverty. Over the last 3 years, Paul, PowerMundo’s General Manager, has led a team to develop a clean energy distribution network throughout Peru by working with existing local businesses and traveling sales agents who can efficiently reach remote customers, increasing their access to energy. PowerMundo trains and empowers Peruvian distributors with marketing and digital pay-as-you-go financing tools, allowing them to develop successful businesses that help people in rural communities save money, live healthier lives, and improve the environment. PowerMundo’s impact is three-fold. First, the distributors trained by PowerMundo develop successful businesses that enable them to increase their income and thus better support their families. Second, the end-users gain access to clean energy, saving money and living healthier, more productive lives. For each solar lamp, end-users benefit from approximately 4 additional hours per night of improved lighting for work and educational purposes and can charge their cell phones. A family can save more than US$900 over 5 years by using a solar light instead of spending an average of $16 per month on other energy sources. Third, solar lights improve the environment; for each solar light, over 430 liters of diesel fuel and over 1,600 kgs of CO2 emissions will be replaced by clean energy. One of PowerMundo’s successful distributors is Diana who, with her husband, runs a basic necessities store in the town of Yurimaguas in the Loreto Region of Peru. Through this store, Diana supplies a small network of shops in the nearby rural communities. Seeing huge demand for improved lighting services, Diana received training from PowerMundo on the use and benefits of solar products, and she purchased an initial stock of 10 solar lights. With access to PowerMundo’s product inventory, marketing support, and business training, she gradually built up her business; within two years, Diana has expanded her distribution network to other areas of Loreto and now purchases over 150 solar lights per month. With the additional income that she earns from selling the solar products, Diana and her husband were able to move to Tarapoto, a larger city, where they can provide better schooling for their child and develop additional business opportunities. After seeing the benefits for both her family and her customers, Diana decided to grow her network and began to help other distributors start their own clean energy businesses; she now works with more than 15 distributors to reach rural, off-grid customers. PowerMundo’s sales have grown by an average of 150% annually for the past 3 years, leading to greater socioeconomic, health, and environmental impact through partners like Diana. Thank you for contributing to help PowerMundo increase its positive impact in Peru! *** This loan is going through a Private Fundraising Period. During this period, the Field Partner and borrower are allowed to tap into their own networks to recruit support of the loan, prior to the loan being posted to the public Kiva website.