A loan of $1,550 helped to purchase cookstove products for sale to end users.


Langobaya Fsa's story

Langobaya FSA (Financial and Savings Association) is a village bank located west of Kenya’s tropical coastal town of Malindi. It is dedicated to improving the lives of its community members. Most of the FSA’s members live on less than $1 a day, have little collateral and are therefore unable to access loans through traditional banking services. Its members are mainly farmers and those working in the informal sector, such as shopkeepers, market vendors and tailors. The FSA’s members live in a rural setting and cook over inefficient open fires that produce health-damaging smoke and contribute to the deforestation that is destroying Kenya’s environment. Paradigm’s cookstoves will reduce the toxic smoke by 70% and will reduce the fuel needed to cook by up to 50%. Langobaya FSA was started in November 2012 and currently stands at 400 members, 60% of whom are women. The FSA disburses business, school fees and agricultural inputs loans at a very low interest rate. It has a repayment rate of close to 100%. The FSA is 100% owned and governed by its members, all of whom own shares of the FSA. Almost all the FSA’s members are extremely eager to purchase a cookstove. However, paying for the product upfront presents a challenge. The FSA is unable to raise enough low-interest capital to finance the cookstoves for its members, as business loans make up the majority of the FSA’s loan portfolio. With a loan from Kiva, Langobaya FSA will be able to offer cookstoves to its members in three monthly installments. With a Kiva loan, Langobaya FSA will receive 100 fuel-efficient cookstoves from Paradigm and will offer its members manageable financing terms to purchase a stove. This will make the cookstoves accessible to even the lowest income members of the FSA. Help improve the health and financial stability of a rural family in Kenya today!



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Loan details