To help participants pay for their bicycles, BAP developed a financing plan. We collect payments via mobile money once a month.
Other model details include:
- Total payment for the bicycle is $100.
- Payment period of one year.
- Payments cover full cost of bicycle, plus a small mark-up fee to cover operations.
- There is a down payment of 15% before receiving the bicycle.
- Even though it's an individual loan, participants pay back in village savings group.