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Update on Sandra

Sandra is one of the most successful Zoona mobile money transfer business owners. She is a hardworking mother of one and has been operating her business for three years. Her first shop opened in 2010 and since has expanded to four shops in Kitwe. Kitwe is the second largest city in Zambia and is the mining center of the Copperbelt province.

Sandra received her first Kiva loan in early 2012 and her second in May of 2013. The loans helped grow her business by opening additional outlets and having adequate working capital float to service customers efficiently. She also enrolled herself at one of the largest universities in Zambia, where she is studying business finance.

Now that Sandra has successfully paid back both her loans, she is requesting a third loan to open a new shop in Luanshya, a mining town located 51km away from Kitwe. The loan will be used to purchase a trading booth and use the rest as working capital float for the new shop. Sandra explains how having sufficient working capital is important to a successful new shop opening so you do not have to turn away customers. Having the shop start well is needed to maintain a good reputation within the community and grow.

Sandra wanted to let Kiva lenders know that she is grateful for their support. Now, she is able to take better care of her family and grow her business. She encourages lenders to continue to believe in supporting small business entrepreneurs like her.

Previous Loan Details

Sandra is a 26 year-old mother of one. She got her first Kiva loan a year ago and has grown her business by 100 percent. She finished paying off her loan in August of 2012 and has since opened two more mobile money transfer shops in her hometown of Kitwe. She now has seven employees in total. To... More from Sandra'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
  • 2
    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 $4,775 helped Sandra to open a new shop in a mining town called Luanshya, so that she can continue growing her Zoona mobile money transfer business.
100% repaid
Repayment Term
20 months (Additional Information)
Repayment Schedule
At end of term
Oct 20, 2013
Oct 2, 2013
Currency Exchange Loss:
Jul 17, 2014