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Update on Edson

Edson operates a successful Zoona mobile money transfer business. He is very excited to be taking out his third Kiva loan. From the time he received his first loan in 2012, Edson’s business has grown significantly. He has purchased additional equipment like a trading booth to better serve his customers. With his working capital loans, he has been able to offer additional services to his customer base such as mobile airtime. He also opened another outlet in his hometown of Chililabombwe. He says all this growth would not have been possible without the working capital assistance from Kiva lenders.

Now, Edson is requesting his third loan so he can increase his floating capital at his two shops. He explains that the business of mobile money transfers is one that requires a lot of money on hand because as the business grows, the number of customers also increases; hence, the need for more money to serve the growing customer base. This loan will help him reach more customers and scale his business even further.

This picture was taken at Edson’s new trading booth.

Previous Loan Details

Eddie is very happy for the opportunity to get a second Kiva loan. He used his first loan to add on to the little working capital that he had, and this enabled him to serve customers much faster and earn more profits from his mobile money transfers business. From the time that he got his Kiva loa... More from Edson's previous loan »

Additional Information

More information about this loan

This loan is a combination of the following: 1) Capital Growth Loan: An asset-based loan provided to both existing and new Zoona agents for setting-up or expanding their mobile transactions business. Part of the amount is an in-kind loan to enable agents to acquire assets for their mobile transaction business. For existing agents, the loan is designed to inject medium-term working capital assistance to purchase additional assets or expand to new locations thereby helping their businesses grow. 2) Electronic Float Advance: Short-term liquidity assistance to qualifying Zoona agents to allow them to make mobile money payments when their electronic balance is too low to meet their immediate business needs. The loan is intended to provide borrowers with a boost to their electronic float to allow them to handle more revenue generating transactions and also give them a means to support transactions during peak demands. The borrowers will be able to draw down their electronic advance on a per-transaction basis. There are no monthly repayments, rather the borrowers will earn less commission on per transaction basis on the funds utilized from the advance. Repayments will include fixed monthly repayments for the capital growth portion and a bullet payment at the end of an 18-month term for the electronic float advance. By supporting this loan, you’re helping an entrepreneur set up or expand their business.

About Zoona:

Zoona is a mobile money operator that invests in emerging entrepreneurs in Africa who provide underserved communities with financial inclusion. Zoona offers entrepreneurs an opportunity to build their own businesses and create wealth and employment through mobile payment solutions, financial services, business management tools and support. Kiva loans made through Zoona provide mobile banking service agents with funding for fixed asset purchases, setup expenses, and working capital float to ensure resources to manage cash in/out transaction requests.

Concurrent and Successive Loans

Our Field Partners often work with borrowers over a series of loans as the borrowers build credit, take out bigger loans, and expand their businesses. In order to make it easier for our Field Partners to post loans for borrowers who have been listed on Kiva before, we allow them to post successive and concurrent loans for their Kiva borrowers. This means that our Field Partners are able to post a borrower's second, third, etc., loan on Kiva without having to re-enter all of the borrower's information.

This borrower has been listed on Kiva before, so you'll see an updated loan description, as well as excerpts of the original descriptions from earlier loans. Most borrowers take out loans consecutively, meaning that they receive a second loan after having repaid the first. However, sometimes our Field Partners give out concurrent loans, allowing borrowers to take out one primary loan and a secondary "add-on" loan along with it. These "add-on" loans are typically smaller than the borrower's primary loan and serve a different purpose. Because Field Partners can now post loans as successive and concurrent loans, you will be able to track borrower progress over time and see the various ways a borrower is working with our Field Partners through funds from Kiva’s lenders.

About Zambia

  • $4,100
    Average annual income
  • 6
    View loans »
    Zambia Loans Fundraising
  • $1,284,550
    Funds lent in using Kiva
  • 5.3
    Zambia Kwacha (ZMW) = $1 USD

Success!! The loan was 100% repaid

A loan of $3,750 helped Edson to increase his floating capital at his two shops so that he can grow his mobile money transfer business.
100% repaid
Repayment Term
37 months (Additional Information)
Repayment Schedule
At end of term
Oct 10, 2013
Sep 15, 2013
Currency Exchange Loss:
Jan 17, 2015