A $50,000 loan to Malian startup Teliman through KivaSubmitted by Admin on Fri, 02/26/2021 - 14:39
The Malian company Teliman, supported by our program I&P Acceleration Technologies, recently received a $50,000 loan through the online platform Kiva. This loan will help the startup provide quality jobs, health insurance, and productive asset ownership to Malian youth moto-taxi drivers.
Teliman is the very first on-demand motorcycle-taxi service in Bamako, Mali.
About the loan
Teliman, a social enterprise founded by Malian entrepreneurs and engineers Hawa Traore and Abdoulaye Maiga, offers the first on-demand moto-taxi service in Bamako to connect urban commuters with professional drivers that are trained, equipped with helmets, providing financing, and fully health insured. Teliman recruits and trains drivers creating a formalized workforce of franchisee drivers through a lease-to-own model. Drivers acquire quality and low-fuel consumption bikes after a maximum of two years while working for Teliman.
Teliman has created nearly 200 quality jobs for drivers and unlocked over $650,000 in income for their employees. The company wants to expand to other West African markets and onboard 400 new drivers by the end of 2021.
This loan of $50,000 provides flexible working capital to onboard new drivers and weather disruptions caused by COVID-19. More than 1,500 lenders contributed to Teliman's fundraising. It is Teliman’s first loan through Kiva’s Labs: Social Enterprises program.
About Kiva's Social Enterprises program
Kiva is an international nonprofit, founded in 2005 in San Francisco, with a mission to expand financial access to help underserved communities thrive. Kiva address this objective by crowdfunding loans and unlocking capital for the underserved, improving the quality and cost of financial services, and addressing the underlying barriers to financial access around the world.
The loan is made directly to Teliman through the Kiva Labs: Social Enterprise (LSE) program, which aims to raise capital for social enterprises in a new and more efficient way. The LSE program enables Kiva to reach more social enterprises and lower operational costs by facilitating lending directly, without a Field Partner.