Clean Stove Group
More information about this loan
This loan focuses on financing trained artisans to produce and sell a new clean energy cook stove known as ELSA Stove. This Stove was recently developed by the Cape Coast Technical institute with support from University of Udine Italy under an international program known as BeBi project. The stove uses Biochar pellets produced locally by communities using locally available materials such as sawdust waste and palm oil kernel husks. Besides sale of stoves, the other financing opportunity will target entrepreneurs willing to produce and sell biochar pellets for the ELSA stoves as well as pelletizer machines fabricated locally. By supporting this loan you are helping grow a local industry around green technology.
About ASA Initiative:ASA Initiative is a Micro Finance Institution based in Cape Coast, Ghana, and operating in the Central Region of Ghana.
They target loan products to several sectors, with the majority of loans classified as general small business loans. They have also added a mixture of higher-impact and higher-risk loans that could be expanded through Kiva funding, including green loans and agriculture loans.
This is a Group Loan
In a group loan, each member of the group receives an individual loan but is part of a larger group of individuals. The group is there to provide support to the members and to provide a system of peer pressure, but groups may or may not be formally bound by a group guarantee. In cases where there is a group guarantee, members of the group are responsible for paying back the loans of their fellow group members in the case of delinquency or default.
Kiva's Field Partners typically feature one borrower from a group. The loan description, sector, and other attributes for a group loan profile are determined by the featured borrower's loan. The other members of the group are not required to use their loans for the same purpose.
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