A loan of $275 helped to process more mobile phone credit sales and bill payment transactions.

Chara's story

Chara is a hardworking man for his family and children. He has two children; the older child is 14 years old and the younger is 9 years old. Chara sells mobile phone credit to his co-workers at his chemical company. Now he has almost 50 partners, and the business is still growing. He wants to focus on this mobile phone credit business.

Working capital loans to Ruma agents allow them to process more mobile phone credit sales and bill payment transactions. Each Ruma agent has a balance with Ruma that allows them to sell mobile phone credit or process bill payments. When the balance is at zero, the agent cannot process any additional sales or bill payments and has to top up their balance by giving Ruma field officers cash in exchange for electronic credit.

For operational efficiency, Ruma can collect from agents only as frequently as once a day and cannot collect on the weekend when banks are closed, and cash can't be safely deposited there. As a result, agents often have lower sales on the weekend and have unfulfilled potential to make more transactions during weekdays when their balances are empty.

This working capital loan allows credit-worthy borrowers to reach their full sales potential. The loan is structured like a line of credit that the borrower uses and repays as needed during the loan term. At the end of the term, the borrower is responsible for paying back any outstanding balance so that the total amount can be returned to Kiva lenders.

Loan details

Lenders and lending teams

Loan details