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N/A, direct to Sikubora
Approved to post Kiva loans from: Tanzania
Status update - November 3, 2020
Since mid-2019, Sikubora has been facing financial and operational problems mainly linked to client high delinquency and default rates. Despite efforts to address them and pivot their business model, Sikubora's problems were compounded by the Covid-19 pandemic. The company hasn't generated any profits in the last 12 months and prospects for loan recovery are minimal. Because of the lack of clarity in future payments, we are defaulting this loan. Kiva will try to stay in touch with Sikubora and hopes to be able to share better news in the near future. If/when Sikubora does make repayment to Kiva, they will be passed along to lenders.
There is no Field Partner for this loan. It is part of the Direct to Social Enterprise program. For more details on DSE, please click here. For more details on the borrower, please refer to their loan profile.
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