Status update — August 2, 2021

Since the middle of 2019, Jakana has been facing financial and operational problems mainly linked to the rising supply chain prices, lower world market prices for fruit and a flash food in April 2019 which wiped out their inventory. Jakana’s problems were compounded by the Covid-19 pandemic. Despite Kiva granting them a moratorium on payments, it is now clear that Jakana has been unable to recover. Because prospects for loan recovery are minimal, we are defaulting this loan. Kiva will continue to seek updates from Jakana and hopes to be able to share better news in the near future. If Jakana is able to make any future repayments to Kiva, they will be passed along to lenders. Please know that even in cases of non-repayment, your loans are still helping make a difference in the lives of borrowers around the globe, and with your support you're giving people an opportunity to pursue better lives.

There is no Lending 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.