Burn Manufacturing
Approved to post Kiva loans from: Kenya, Uganda, Tanzania, Rwanda
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 — August 9, 2018
Kiva has moved this Lending Partner to inactive status, as BURN has decided stop posting new loans to borrowers on Kiva and instead to test out Kiva's Direct to Social Enterprise program as an alternate way of crowdfunding capital for their work. This Lending Partner has repaid its outstanding balance to Kiva in full and these funds have been distributed to lenders. If and when this partner requests to post loans to borrowers again using Kiva's traditional model whereby they act as a Lending Partner, Kiva will first conduct any additional monitoring and due diligence tasks we believe necessary.
Partner description:
BURN Manufacturing Corporation (BURN) is a social venture that addresses the global challenges of deforestation, advanced respiratory illness, global warming and poverty.
BURN was created to help meet the enormous need for high-efficiency cook stoves in the developing world, where nearly 3 billion people rely on biomass fuels such as wood, charcoal and dung for cooking. Traditional cook stoves and open fires produce life-threatening smoke. It is estimated that 2 million people globally - mostly women and children - die from respiratory diseases related to indoor cooking smoke each year.
BURN manufactures clean burning biomass cook stoves in Kenya. The cook stoves save families money, reduce CO2 emissions, and save trees. Additionally, BURN is creating more than 200 sustainable design and manufacturing jobs in Kenya for the production of their cook stoves.
A unique lending approach:
BURN focuses on the urban market for stove distribution where there is a high demand for clean cook stoves.
Kiva loans go to BURN’s distribution partners in East Africa. Loans are given to small scale distributors to buy 50-150 clean cook stoves. The stoves are manufactured in a facility in Nairobi, making BURN the only cook stove company to fully manufacture its product locally.
Mission statement:
BURN Manufacturing Corporation aims to address the global challenges of deforestation, advanced respiratory illness, global warming, and poverty through its production and distribution of affordable clean cook stoves.
Why Kiva works with BURN Manufacturing Co:
Kiva supports BURN’s plans to serve low-income clients with products that have both health and economic benefits. Funding on Kiva helps BURN reach its goals by helping the organization increase its distribution of clean cook stoves. These charcoal-burning stoves pay for themselves in about three months through cost savings. With access to Kiva loans, BURN’s distributors can obtain more stoves at once and reduce shipping and handling costs.
Status update — August 9, 2018
Kiva has moved this Lending Partner to inactive status, as BURN has decided stop posting new loans to borrowers on Kiva and instead to test out Kiva's Direct to Social Enterprise program as an alternate way of crowdfunding capital for their work. This Lending Partner has repaid its outstanding balance to Kiva in full and these funds have been distributed to lenders. If and when this partner requests to post loans to borrowers again using Kiva's traditional model whereby they act as a Lending Partner, Kiva will first conduct any additional monitoring and due diligence tasks we believe necessary.
Partner description:
BURN Manufacturing Corporation (BURN) is a social venture that addresses the global challenges of deforestation, advanced respiratory illness, global warming and poverty.
BURN was created to help meet the enormous need for high-efficiency cook stoves in the developing world, where nearly 3 billion people rely on biomass fuels such as wood, charcoal and dung for cooking. Traditional cook stoves and open fires produce life-threatening smoke. It is estimated that 2 million people globally - mostly women and children - die from respiratory diseases related to indoor cooking smoke each year.
BURN manufactures clean burning biomass cook stoves in Kenya. The cook stoves save families money, reduce CO2 emissions, and save trees. Additionally, BURN is creating more than 200 sustainable design and manufacturing jobs in Kenya for the production of their cook stoves.
A unique lending approach:
BURN focuses on the urban market for stove distribution where there is a high demand for clean cook stoves.
Kiva loans go to BURN’s distribution partners in East Africa. Loans are given to small scale distributors to buy 50-150 clean cook stoves. The stoves are manufactured in a facility in Nairobi, making BURN the only cook stove company to fully manufacture its product locally.
Mission statement:
BURN Manufacturing Corporation aims to address the global challenges of deforestation, advanced respiratory illness, global warming, and poverty through its production and distribution of affordable clean cook stoves.
Why Kiva works with BURN Manufacturing Co:
Kiva supports BURN’s plans to serve low-income clients with products that have both health and economic benefits. Funding on Kiva helps BURN reach its goals by helping the organization increase its distribution of clean cook stoves. These charcoal-burning stoves pay for themselves in about three months through cost savings. With access to Kiva loans, BURN’s distributors can obtain more stoves at once and reduce shipping and handling costs.
Repayment Performance on Kiva
This Lending Partner | All Kiva Partners | ||
Start Date On Kiva | Jun 18, 2015 | Oct 12, 2005 | |
---|---|---|---|
Total Loans | $267,050 | $2,046,857,240 | |
Amount of raised Inactive loans | $0 | $329,125 | |
Number of raised Inactive loans | 0 | 224 | |
Amount of Paying Back Loans | $0 | $154,628,025 | |
Number of Paying Back Loans | 0 | 186,271 | |
Amount of Ended Loans | $267,050 | $1,851,013,910 | |
Number of Ended Loans | 63 | 2,491,542 | |
Delinquency Rate | 0.00% | 12.11% | |
Amount in Arrears | $0 | $11,277,316 | |
Outstanding Portfolio | $0 | $93,149,537 | |
Number of Loans Delinquent | 0 | 54,545 | |
Default Rate | 5.98% | 1.82% | |
Amount of Ended Loans Defaulted | $15,979 | $33,742,451 | |
Number of Ended Loans Defaulted | 7 | 88,997 | |
Currency Exchange Loss Rate | 0.00% | 0.47% | |
Amount of Currency Exchange Loss | $0 | $12,725,634 | |
Refund Rate | 1.87% | 0.53% | |
Amount of Refunded Loans | $5,000 | $10,938,345 | |
Number of Refunded Loans | 1 | 9,670 |
Loan Characteristics On Kiva
This Lending Partner | All Kiva Partners | ||
Loans to Women Borrowers | 84.38% | 78.48% | |
---|---|---|---|
Average Loan Size | $4,251 | $393 | |
Average Individual Loan Size | $4,251 | $586 | |
Average Group Loan Size | $0 | $1,910 | |
Average number of borrowers per group | 0 | 8.3 | |
Average GDP per capita (PPP) in local country | $1,800 | $5,593 | |
Average Loan Size / GDP per capita (PPP) | 236.15% | 7.02% | |
Average Time to Fund a Loan | 1.31 days | 9.12 days | |
Average Dollars Raised Per Day Per Loan | $3,235.49 | $43.09 | |
Average Loan Term | 5.48 months | 11.5 months |
Journaling Performance on Kiva
This Lending Partner | All Kiva Partners | ||
Total Journals | 79 | 1,221,186 | |
---|---|---|---|
Journaling Rate | 95.24% | 41.91% | |
Average Number of Comments Per Journal | 0.00 | 0.02 | |
Average Number of Recommendations Per Journal | 0.00 | 0.55 |
Borrowing Cost Comparison (based on 2014 data)
This Lending Partner | Median for MFI's in Country | All Kiva Partners | ||
Average Cost to Borrower | 5% APR | 36.00% PY | 26.44% PY | |
---|---|---|---|---|
Profitability (return on assets) | -42.1% | 0.5% | -1.28% | |
Average Loan Size (% of per capita income) | N/A | 56.00% | 0.00% |
Country Fast Facts
- Country:
- Kenya
- Capital:
- Nairobi
- Official Language:
- English (official), Kiswahili (official)
- Population:
- 45,010,056
- Avg Annual Income:
- $1,800
- Labor Force:
- agriculture: 75%, industry and services: 25%
- Population Below Poverty Line:
- 43.40%
- Literacy Rate:
- 87.40%
- Infant Mortality Rate (per 1000):
- 40.71 deaths
- Life Expectancy:
- 63.52 years