I was born in Iran and immigrated to the USA with my family at the age of 7. Less than two years after our arrival, the Iranian Revolution and the Hostage Crisis occurred. I think that is where my deep desire to bring together my two cultures (Iranian/American, East/West, Muslim/Christian) was realized. I've worked in the NGO world for the better half of my career, focused much on NGOs that promote cultural and educational exchange.
We visit Tunisia often with my husband of 12 years, a Franco-Tunisian. Over the years, while visiting Tunisia, I fell in love with their crafts and culture. I also felt deeply inspired and guided to find a deeper purpose linked to this East/West divide. The Arab Spring had begun in Tunisia with one frustrated small business owner setting himself on fire. I had been a fan and small loan giver of Kiva since 2010 after reading Nicholas Kristof's book Half the Sky, in which Kiva was mentioned. What if we also helped in our own small way, supporting artisans and small businesses in Tunisia by importing their products, and helped locally by reaching out to help the marginalized of Los Angeles? In doing so, we could help to bridge this gap between our cultures by showing how connected we all are through the basics of life: beautiful, simple, useful items such as towels and soaps.
Step by step, with much discernment and pragmatic preparation came the idea of Balthazar & Rose. We import artisanal Tunisian towels called Foutas, as well as a wonderful product called Aleppo Soap made by a Syrian Aleppo Soap Master. Both are ancient traditions of the East that fit effortlessly into the modern world.
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Browse categories of borrowers— people looking to grow businesses, go to school, switch to clean energy, and more.
Make a loan
Select a borrower who you connect with and help fund a loan with as little as $25.
Get repaid
Receive updates on your loans and see the dollars return to your Kiva account.
Repeat!
Use the repayment to support another borrower, or withdraw your money.
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Funded
A loan helped this female entrepreneur to grow her social enterprise, supporting artisans in Tunisia, and employing formerly previously incarcerated men and women in the US.
Ellie's story
This loan is special because:
More about this loan
Business Description
Balthazar & Rose is a social enterprise that strives to bring beautiful, simple, useful gifts from the East to the West. Our mission is to make a positive impact by bridging cultural divides with products that are socially responsible and embody powerful significance: working directly with artisans, protecting the cultural heritage of ancient products and providing economic opportunity for people on the margins of society.
My small business was born of inspiration from travel to my husband's country, Tunisia, and from a love of simple gifts from other cultures that fit effortlessly and purposefully into the modern lifestyle. One such gift was the Fouta (Tunisian multi-use towel) and more recently, the addition of our Aleppo Soap (Savon d'Alep) made by a Syrian Aleppo Soap Master.
We are so proud to bring these treasures to the United States and to share their special stories and the lives they touch. Aside from helping in our own small way to support the economy of newly democratic and fragile Tunisia (and the Winner of the 2015 Nobel Peace Prize), it is our honor to also engage with our local community (Homeboy Industries*) in the packaging of our soaps, give a percentage of proceeds of the Aleppo Soap to the Jesuit Refugee Service (since our soap launch in late 2016), and 2% of profits of the towels to Kiva loans (since 2014).
*Homeboy Industries is an LA based social enterprise that "provides hope, training, and support to formerly gang-involved and previously incarcerated men and women allowing them to redirect their lives and become contributing members of our community." Their motto "Nothing stops a bullet like a job" and it is of course, also about healing.
What is the purpose of this loan?
I began my business in late 2014 cautiously (with limited inventory) and hit the Farmers Markets! I did well and with confidence, in 2015, despite production and import issues, managed to have a half a year of sales, obtain presence in 10 boutiques (wholesale) and expand the line from just Towels to begin the research phase of the Aleppo Soaps. In 2016, I was incredibly active in Farmers Markets & pop-ups, and was accepted at a Show Room, increasing wholesale presence to 50 boutiques. The goal for 2017 is to attend a first Tradeshow (fees, marketing material, booth), improve my website and online presence/marketing, and purchase more inventory, particularly Aleppo Soap.
Loan details
Loan length:
Repayment schedule
Monthly: One repayment made per month
End of term: One repayment made at the end of the loan term
Irregular: Any other repayment schedule
To see a detailed repayment schedule for a specific loan, click the "Repayment schedule" link on the loan profile under "Loan details."
What is the disbursed date?
In the case of partner loans, many of our Field Partners choose to disburse loan funds before the loan request is posted on Kiva. We allow pre-disbursal because it ensures that the funds reach the borrower as soon as they are needed. Loan funds from Kiva lenders then go to backfill that amount and as a lender you assume the risk of the loan. By doing this, our Field Partners assume the risk that, if the loan isn't funded by lenders, they will have to fund the loan without any funds from Kiva.
If a partner loan is not pre-disbursed, it will be listed on Kiva with an expected "post-disbursed" date. If a post-disbursed loan is not funded on Kiva, there is a chance that the borrower may not receive their loan. Some Field Partners choose to disburse loans with other sources of funding, while other partners don't have the resources available to fund loans without Kiva lenders' support. No direct loans will be disbursed unless they fully fundraise on Kiva.
Funding model
What does "Partner covers currency loss" mean & how could it affect my Kiva loans?
Potential for currency exchange loss is noted on every loan profile under the loan details:
"Yes" means the Field Partner will cover any currency loss. Lenders will not bear losses due to currency fluctuation
"Partial" means that the Field Partner has opted to cover losses only up to 10%. If the U.S. dollar appreciates more than 10% against the local currency, those losses will be passed onto lenders.
"No" means that the Field Partner is not covering any currency losses and all losses will be passed onto lenders.
"N/A" means the Field Partner disburses loans to borrowers in USD so their loans are not subject to any currency fluctuation.
Do Kiva borrowers pay any interest on their loans?
Our partners collect interest from borrowers because there are many operational expenses associated with microfinance in developing markets, especially in rural areas. Many of Kiva's Field Partners also provide additional services alongside their loan products such as business training, financial literacy lessons, or health services.
Kiva will not partner with an organization that charges unreasonable interest rates, and we require Field Partners to fully disclose their rates. In addition, we only partner with microfinance institutions and organizations that have a social mission to serve the poor, unbanked, and underserved.
There are some 0% interest loans on Kiva, including all direct loans in the United States. To learn more about the interest rates Kiva borrowers pay, you can review the "Average cost to borrower" field on a loan profile.
What is a risk rating?
The Field Partner risk rating reflects the risk of institutional default associated with each of Kiva’s Field Partners. A 0.5-star rating means the organization has a relatively higher risk of institutional default, while a 5-star rating indicates the organization is at a relatively lower risk of default, based on Kiva's analysis and the available information displayed in the Field Partner section of every loan. Field Partners with the lowest credit tier undergo a lighter level of due diligence and do not receive a risk rating; instead, in places where a risk rating would normally appear, these partners are labeled as “Experimental.” For more information, see "What is an Experimental Field Partner?"
Direct loans also do not receive a formal risk rating. Instead, these loans are approved through “social underwriting”, where trustworthiness is determined by friends & family lending a portion of the loan request, or by a Kiva approved Trustee vouching for the borrower. Direct loans will appear as "Unrated" and lenders should always assume these loans represent the highest level of repayment risk on Kiva.
How are loans facilitated?
Kiva loans are facilitated through 2 models, partner and direct, that enable us to reach the greatest number of people around the world.
For partner loans, borrowers apply to a local Field Partner, which manages the loan on the ground. Field Partners are responsible for screening borrowers, disbursing loans, posting borrowers to the Kiva website for funding, collecting repayments and otherwise administering Kiva loans on the ground to borrowers.
For direct loans, borrowers apply through the Kiva website and may or may not be endorsed by a Trustee. Unlike Field Partners, Trustees don't handle any financial transactions or have any duty to repay loans on behalf of their borrowers. Instead, Trustees take the role of providing support and business advice to their borrowers throughout the term of the loan.
More information about successive and concurrent loans
Field Partners often work with borrowers over time to help them build credit and expand their businesses. In order to make it easier for partners to post loans for borrowers who have been listed on Kiva before, we allow some partners the ability to relist a loan without having to re-enter all of the borrower's information. When this occurs, you'll see an updated loan description, as well as excerpts of the original descriptions from an earlier loan.
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 additional loans are typically smaller than the borrower's primary loan and serve a different purpose. We trust our partners to determine whether a borrower has the means to be able to repay a successive or concurrent loan.
About Balthazar & Rose
Lenders and lending teams
Country: United States
Trustee: Public Squared
What are Trustee tiers?
For for more information about Trustee tiers, visit: kivaushub.org/trustee-tiers
Tags
Loan tags help lenders find loans that match certain areas of interest.
Loan details
Loan length:
Repayment schedule
Monthly: One repayment made per month
End of term: One repayment made at the end of the loan term
Irregular: Any other repayment schedule
To see a detailed repayment schedule for a specific loan, click the "Repayment schedule" link on the loan profile under "Loan details."
What is the disbursed date?
In the case of partner loans, many of our Field Partners choose to disburse loan funds before the loan request is posted on Kiva. We allow pre-disbursal because it ensures that the funds reach the borrower as soon as they are needed. Loan funds from Kiva lenders then go to backfill that amount and as a lender you assume the risk of the loan. By doing this, our Field Partners assume the risk that, if the loan isn't funded by lenders, they will have to fund the loan without any funds from Kiva.
If a partner loan is not pre-disbursed, it will be listed on Kiva with an expected "post-disbursed" date. If a post-disbursed loan is not funded on Kiva, there is a chance that the borrower may not receive their loan. Some Field Partners choose to disburse loans with other sources of funding, while other partners don't have the resources available to fund loans without Kiva lenders' support. No direct loans will be disbursed unless they fully fundraise on Kiva.
Funding model
What does "Partner covers currency loss" mean & how could it affect my Kiva loans?
Potential for currency exchange loss is noted on every loan profile under the loan details:
"Yes" means the Field Partner will cover any currency loss. Lenders will not bear losses due to currency fluctuation
"Partial" means that the Field Partner has opted to cover losses only up to 10%. If the U.S. dollar appreciates more than 10% against the local currency, those losses will be passed onto lenders.
"No" means that the Field Partner is not covering any currency losses and all losses will be passed onto lenders.
"N/A" means the Field Partner disburses loans to borrowers in USD so their loans are not subject to any currency fluctuation.
Do Kiva borrowers pay any interest on their loans?
Our partners collect interest from borrowers because there are many operational expenses associated with microfinance in developing markets, especially in rural areas. Many of Kiva's Field Partners also provide additional services alongside their loan products such as business training, financial literacy lessons, or health services.
Kiva will not partner with an organization that charges unreasonable interest rates, and we require Field Partners to fully disclose their rates. In addition, we only partner with microfinance institutions and organizations that have a social mission to serve the poor, unbanked, and underserved.
There are some 0% interest loans on Kiva, including all direct loans in the United States. To learn more about the interest rates Kiva borrowers pay, you can review the "Average cost to borrower" field on a loan profile.
What is a risk rating?
The Field Partner risk rating reflects the risk of institutional default associated with each of Kiva’s Field Partners. A 0.5-star rating means the organization has a relatively higher risk of institutional default, while a 5-star rating indicates the organization is at a relatively lower risk of default, based on Kiva's analysis and the available information displayed in the Field Partner section of every loan. Field Partners with the lowest credit tier undergo a lighter level of due diligence and do not receive a risk rating; instead, in places where a risk rating would normally appear, these partners are labeled as “Experimental.” For more information, see "What is an Experimental Field Partner?"
Direct loans also do not receive a formal risk rating. Instead, these loans are approved through “social underwriting”, where trustworthiness is determined by friends & family lending a portion of the loan request, or by a Kiva approved Trustee vouching for the borrower. Direct loans will appear as "Unrated" and lenders should always assume these loans represent the highest level of repayment risk on Kiva.
How are loans facilitated?
Kiva loans are facilitated through 2 models, partner and direct, that enable us to reach the greatest number of people around the world.
For partner loans, borrowers apply to a local Field Partner, which manages the loan on the ground. Field Partners are responsible for screening borrowers, disbursing loans, posting borrowers to the Kiva website for funding, collecting repayments and otherwise administering Kiva loans on the ground to borrowers.
For direct loans, borrowers apply through the Kiva website and may or may not be endorsed by a Trustee. Unlike Field Partners, Trustees don't handle any financial transactions or have any duty to repay loans on behalf of their borrowers. Instead, Trustees take the role of providing support and business advice to their borrowers throughout the term of the loan.
More information about successive and concurrent loans
Field Partners often work with borrowers over time to help them build credit and expand their businesses. In order to make it easier for partners to post loans for borrowers who have been listed on Kiva before, we allow some partners the ability to relist a loan without having to re-enter all of the borrower's information. When this occurs, you'll see an updated loan description, as well as excerpts of the original descriptions from an earlier loan.
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 additional loans are typically smaller than the borrower's primary loan and serve a different purpose. We trust our partners to determine whether a borrower has the means to be able to repay a successive or concurrent loan.
Trustee: Public Squared
What are Trustee tiers?
For for more information about Trustee tiers, visit: kivaushub.org/trustee-tiers
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