What to know about this Lending Partner
Kiva conducts regular, ongoing monitoring of all Lending Partners, but only posts status updates here in response to relevant, major changes at the partner.
Status update — December 12, 2017
RISE Tanzania has decided to end its lending program, as it doesn't fit within their current business model. As a result, Kiva has moved this Lending Partner to inactive status, which means RISEis no longer fundraising loans on Kiva, though Kiva fully expects the partner to continue to send repayments owed to Kiva lenders for as long as the partner has an outstanding balance. Kiva thanks RISE for their partnership and their work bringing solar energy to people in rural Tanzania. RISE Tanzania would also like to thank all Kiva lenders who've supported their borrowers over the course of the partnership.
Partner description:
RISE is a distribution and finance company that works closely with communities to increase access to sustainable energy products. Their model focuses on offering affordable high-quality technology to people at the bottom of the economic pyramid, mainly rural farmers.
RISE imports high-quality, pay-as-you-go solar systems that are designed to provide light and mobile charging, and transports them to remote communities. RISE utilises existing distribution networks in rural areas and trains local sales agents in business and sales skills, and on benefits, uses, and technical aspects of solar technology.
RISE was a 2015 SEED winner for its potential to create positive change in a sustainable, social and environmental way.
A unique lending approach:
Loans funded on Kiva provide farmers in southern Tanzania with the funds to purchase solar home systems and other solar products. RISE will eventually expand the volume and range of the products, including solar pumps for irrigation, as well as expand to other regions of Tanzania.
The pay-as-you-go repayment plan makes the transition to solar energy affordable and sustainable, enabling future savings and reducing indoor pollution and chronic lung problems. The loans don’t require collateral, and repayments are aligned with the farming harvest period, reducing the risk of overindebtedness. RISE also helps create a formal credit history for the farmer.
The communities around the farmers will also be engaged as the RISE local agents will be employed from the community.