Product Type: Agri-equipment Financing using Innovative Payplans
Project Country: Uganda
SolarNow Services Uganda
Offering flexible financing to farmers in rural, off-grid areas.
SolarNow sells solar systems and appliances (for example, lights, TVs and solar water pumps) to rural off-grid households and businesses, of which more than 70% are farmers.
SolarNow is addressing a strong demand for agri-equipment related financing and has tailored a flexible pay plan product catering for the seasonal cash flows.
Financing in rural off-grid areas is still mostly based on (peri) urban institutions that offer regular payment plans. SolarNow aims to offer innovative payment plans tailored to seasonality, launched through its existing in-house finance vehicle, and embedded in rural areas through the presence of its branch network.