Status update - November 24, 2020

2020 has not been kind to small businesses and Extensio is no exception. By the end of May, due to the effects of COVID-19, Extensio lost their second largest contract and made the difficult decision to close the company. Fortunately, when communicating this decision to their network, various acquisition opportunities arose and they were able to close a deal with another social entrepreneur, Acceso, aligned with their vision of positive social change in the rural communities of Latin America. The deal value is symbolic, and unfortunately does not enable them to reimburse their Kiva loan and as such, we are defaulting this loan on Kiva. However, this deal will allow Extensio's vision to continue and their impact to scale. 

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.