The Problem: high upfront costs for vital business machinery that micro-businesses cannot afford
Our Solution: low cost equipment hire service, charged at a fixed daily rate (paid by mobile money) and can be returned to us and the hire ended at any time
The aim is to facilitate access to relatively high cost equipment that microbusinesses would not otherwise be able to afford. Therefore, allowing our partners to avoid high-interest, high-risk loans while enabling growth of their business.
We aim to allow our partners to test whether expansion is viable and whether a long term low-interest loan would be viable for their business in order to purchase more equipment.
Our partners (the people who have hired our equipment) can return the equipment they have hired from us at any time – payment will simply be up to the exact day they return it. Therefore, there is no risk to them and no fixed contract length or prepayment.
Partners must sign a very basic rental contract to receive their machine and then they will pay a fixed daily fee (payable weekly via mobile money payment).
Our partners must participate in our business training and our course on saving money. Businesses must also have fewer than 5 employees.
Hire periods are limited to 6 months maximum, encouraging our partners to save their profits and grow sufficiently to buy their own equipment in order to eliminate any reliance on us.
We will focus on one piece of equipment in one industry to begin with (sewing machines), but we aim to expand in future. This enterprise will be run alongside our sanitary pads social enterprise.
The model will also be applicable to farm machinery, computers, cooking equipment, manufacturing equipment, power tools and more.
All excess profits will go towards expanding the organisation and running more financial education training sessions, plus providing free sanitary pads to girls in school.
We will promote the enterprise with a team taking pictorial leaflets to tailors and seamstresses in local villages and explaining the opportunity we’re offering.