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Spiro

Update on Spiro

Spiro wants to thank all of the lenders who helped him buy what he needed for his hardware store with the previous loan.
Now he is requesting a second loan for a larger amount, and the goal would be almost the same as previous one: to purchase materials and tools useful to the construction industry.

Previous Loan Details

Spiro, a fifty-four-year-old man and a father of two young daughters, nine and six years old, lived in the countryside up to January of this year when they relocated to a little town in central Albania with a population of approximately 10,000 people. Upon arriving in the town, Spiro realized tha... More from Spiro's previous loan »

Additional Information

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
  • 26
    View loans »
    Albania Loans Fundraising
  • $2,671,075
    Funds lent in using Kiva
  • 104.3
    Albania Leke (ALL) = $1 USD

Success!! The loan was 100% repaid

A loan of $975 helped Spiro to stock up on construction materials for his hardware store.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jan 22, 2013
Listed
Jan 31, 2013
Currency Exchange Loss:
Possible
Ended:
Feb 17, 2014
This photo was used before for a previous loan for Spiro. It was first posted on Kiva on May, 2012. Learn More