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Additional Information

About ASI Federal Credit Union

ASI Federal Credit Union has been experiencing an increased rate of defaults. This is possibly related to the experimental nature of the loan products the organization provides. In order to serve asset-poor communities in New Orleans -- including many still recovering from Hurricane Katrina and the BP Oil Spill -- ASI offers loan products designed to help people start and grow businesses even if they don't have extensive collateral, credit histories, or business experience. For these reasons, these loans also carry a higher level of risk than typical loans on Kiva.

About United States

  • $54,800
    Average annual income
  • 30
    View loans »
    United States Loans Fundraising
  • $12,260,725
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD
Ended with Loss - Defaulted
A loan of $10,000 helped this borrower to pay for various electrical meters, tools, and marketing materials for his new business.
Repayment Term
38 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Nov 23, 2011
Listed
Nov 29, 2011
Currency Exchange Loss:
N/A
Defaulted:
Jan 24, 2014