Margret has since diversified into motorcycle spare parts due to an increase in the number of motorcycles in the region, and she has plans to sell motorcycles in the near future. Margret was introduced to the solar lanterns which provide bright and safe lighting and come with a mobile charging function by BrazAfric green energy marketing team. Because of the recurring cost and health effects associated with paraffin which is the commonly used lighting fuel in her community, she saw an opportunity to boost her sales, increase productivity and raise the living conditions of people in the community.
Margret appreciates the benefits accruing from the use of solar lanterns, and with the Kiva financing option from Brazafric, she is seeking financing to purchase solar lanterns to stock and sell to her community. Margret points out that she would buy some solar lanterns to use in her farm and also for her shop to increase her working hours.
More information about this loan
To make repaying loans more convenient for borrowers, Kiva will accept "bullet payments" -- single lump payments -- at the end of loan terms, rather than weekly or monthly payments. This gives BrazAfric the ability to tailor repayment schedules to individual clients.
This Kiva loan will be used to provide borrowers with needed goods or services, as opposed to cash or financial credit.
Important InformationAside from its newly-established Vendor Financing Department, BrazAfric’s core business is not microfinance or finance. Thus, there is some level of additional risk for lenders that does not exist with financial institutions. Kiva’s partnership with the company is unique and unprecedented. For this reason, Kiva has not assigned BrazAfric a risk rating.
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