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Agustin

Update on Agustin

Agustin wants to thank all Kiva lenders for the previous loan, which allowed him to buy the milk cow. Now he is requesting a new loan in order to build two separate stables, one for cows and one for goats. Agustin hopes that the livestock business he has begun will go as planned and that, with the profit, he will be able to provide for his parents and create his own family soon.

Previous Loan Details

Augustin is 31 years old and has just come back from Greece after working there for several years. He and his family live in the northeast of Albania and were isolated from the blood feud until very recently, just like so many other families in this part of the country. Despite the authorities’ i... More from Agustin's previous loan »

Additional Information

More information about this loan

This loan is part of VisionFund Albania's value chain project designed to address the needs of extremely poor clients. The project has selected 90 clients from Area Development Projects and local economic empowerment projects run by WorldVision Albania (WVA) to serve the very poor. It will focus on livestock and agriculture financing, technical assistance, entrepreneurial skills training and expanding market access for clients' products. Importantly, interest rate payments will be covered by WVA. By supporting this loan, you are providing opportunity to some of the poorest people in rural Albania who have little to no access to credit, even through basic microfinance institutions.

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.

Concurrent and Successive Loans

Our Field Partners often work with borrowers over a series of loans as the borrowers build credit, take out bigger loans, and expand their businesses. In order to make it easier for our Field Partners to post loans for borrowers who have been listed on Kiva before, we allow them to post successive and concurrent loans for their Kiva borrowers. This means that our Field Partners are able to post a borrower's second, third, etc., loan on Kiva without having to re-enter all of the borrower's information.

This borrower has been listed on Kiva before, so you'll see an updated loan description, as well as excerpts of the original descriptions from earlier loans. Most borrowers take out loans consecutively, meaning that they receive a second loan after having repaid the first. However, sometimes our Field Partners give out concurrent loans, allowing borrowers to take out one primary loan and a secondary "add-on" loan along with it. These "add-on" loans are typically smaller than the borrower's primary loan and serve a different purpose. Because Field Partners can now post loans as successive and concurrent loans, you will be able to track borrower progress over time and see the various ways a borrower is working with our Field Partners through funds from Kiva’s lenders.

About Albania

  • $10,700
    Average annual income
  • 21
    View loans »
    Albania Loans Fundraising
  • $2,669,850
    Funds lent in using Kiva
  • 107.8
    Albania Leke (ALL) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $2,800 helped Agustin to build two separate stables for cows and goats.
98% repaid
Repayment Term
32 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Nov 23, 2012
Listed
Nov 26, 2012
Currency Exchange Loss:
Possible
Ended:
Jun 18, 2015
This photo was used before for a previous loan for Agustin. It was first posted on Kiva on Jun, 2012. Learn More