What to know about this Lending Partner
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Partner Description:
Cooking fuel represents a significant portion of household expenditure for low-income households in Cambodia and Bangladesh. However, traditional cooking fuel such as wood and charcoal is becoming increasingly scarce and expensive due to deforestation. In addition, these fuel types are also associated with many hazards, including toxic fume and black soot emissions, posing substantial risks to human health and well-being while also being a significant contributor to climate change. ATEC, an Australian social enterprise, manufactures and sells innovative and affordable cooking solutions for rural households in Cambodia and Bangladesh to tackle these challenges. Currently, there are two complementary products in the ATEC range: the ATEC Biodigester and the ATEC eCook stove. ATEC's cooking solutions are regarded as one of the highest quality, energy-efficient solutions on the market, removing up to 100% of Kitchen Air Pollution while also generating significant cost savings.
Moreover, ATEC's patented solutions are pay-as-you-go, meaning users can pay the system off in installments using mobile money as they use the system (and generate savings) rather than taking out additional loans or having to pay it in full with cash.
A unique lending approach:
Kiva funding would allow ATEC to expand its existing loan program for customers to purchase ATEC Biodigesters and eCook in affordable installments.