A loan of $4,125 helped to purchase five trading booths.

Richard's story

Richard is 45-years-old and widowed with two daughters. He also takes care of four relatives between the ages of 14 and 22. Richard provides financial services to people in his community by offering mobile money transfers and payments. Richard is an entrepreneur at heart and is always looking for unique ways to grow and improve his business.

He operates his primary outlet Monday-Saturday from 8:00 a.m. to 9:00 p.m. Currently, he employs 12 people at his 10 different locations. This is Richard’s third loan from Kiva. He would like to take this opportunity to thank his lenders for helping him grow the business. The previous loans allowed Richard to grow the number of outlets he currently operates to 10. Furthermore, Richard has been able to grow his working capital and serve more customers sending and receiving money from his shops. He has also been able to employ more young adults to help with the day-to-day transactions.

Richard has fully repaid his first loan and continues to always pay his second loan on time. He has requested another loan from Kiva in order to pay for the five trading booths he currently uses to serve his customers. He explains that he is still trying to grow his mobile money transfer business so that all his locations can be profitable.

He plans to use the profits from his growing business to continue paying for his daughter's and dependents' school fees.

Loan details

Lenders and lending teams

Loan details