Nikoll is forty-nine years old and married. He has three children ranging in age from eleven to seventeen-years old and all their family lives in the northeast part of the country. Nikoll has been in the soldering iron trade for the past ten years with the profit being good and him being happy, thus far. “The beginning was very difficult,” Nikoll explains, “yet, this was long ago” he continues saying with a smile. He has been able to build a steady and good size clientele throughout the years thanks to the high demand for his services in the region, and also the good services he has been offering since the beginning.
Nikoll is requesting a loan now, and he is aware that this is a special one because it is a Kiva loan. The previous one from the VFA institution has been paid off on time. He wants to purchase soldering iron equipment now, which will be of assistance to him as he will be able to serve more clients, thus increasing the profit.
His promise to all the lenders is that he will pay this loan as well on time without delay.
About VisionFund Albania
VisionFund Albania is a micro-finance subsidiary of child hunger nonprofit World Vision International. Striving to improve child welfare, the organization offers a variety of loan products designed for rural, traditionally underserved clients and their families. These products include agriculture, business and household improvement loans, as well as "integration loans" targeted to help the poorest, most vulnerable Albanian households acquire value chain resources.
While VFA is focused on the empowerment of the poor overall, it pays special attention to women. About 60% of loans to entrepreneurs on Kiva go to women.