I am a queer mom, and I live with my wife, son, and a slew of pets. I am a mental health advocate and have dealt with depression my entire life. As a teenager, I struggled with drug addiction and was arrested. I turned my life around when I was 16 and started working on of the trauma I had endured. I have been homeless, faced drug addiction, experiences sexual, physical, and emotional abuse, and nearly escaped death on multiple occasions. I am a survivor. Crafting was a huge outlet for me during that time.
I attended college and climbed the corporate ladder of Sales in America. I worked for major companies because I was good with at my job, but every year, I would have some kind of mental breakdown from depression, stress, and burnout, I would have to leave the company because of my inability to function, and disability wasn't available for mental health. The ability to be flexible with my schedule and work from home is absolutely paramount to my well being. If I need to take a day off work to deal with my feelings, I have the flexibility to do so as an entrepreneur.
I've always had the ability to hustle and sell. It's why I was good at corporate sales. But I don't want to sell truck driving services or real estate software. I want to mesh my creativity with my entrepreneurial spirit and work from home so that I can give myself the gentleness and grace I deserve. I have an incredibly strong work ethic and have always been a top performer. Selling random services for a corporate company didn't feed my soul. This business of creating for fellow creators does.
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Choose a borrower
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 to purchase equipment and materials such as a heavy-duty drum carder and fiber to create inventory to sell.
Victoria's story
This loan is special because:
More about this loan
Business Description
Victoria Crossman began working for Abby Franquemont four years ago at her brick and mortar studio. Victoria left the studio to try her hand at corporate America and after a few years decided she’d rather be an entrepreneur working for an entrepreneur.
Victoria is a sub-contractor for Abby Franquemont, making her classic “Abby Bats.” She is involved in many different activities including the actual production of inventory, packaging, and shipping physical product. Other duties include listing inventory online, updating social media, remaining present online for questions, creating advertisements, etc.
The production consists of selecting different types and colors of fibers to blend together using a large electric drum carder. The fibers are blended together to create luxury blends for people who spin yarn. These items have sold consistently for years, and inventory moves rapidly.
Victoria strives to serve the fiber community with amazing blends that are fun to spin and create beautiful yarn, no matter how it’s spun.
What is the purpose of this loan?
I began training under my mentor five years ago, and had the ability to run her studio. I was also her production manager. I created inventory to sell online and in the storefront using specific heavy duty equipment. I left that job after college. I have recently decided to leave corporate America five year later and am working with my mentor again. I am currently driving 80 miles round trip each day I work using her equipment and materials. As a result, I am also financially making a lesser percentage per unit, deeply affecting my ability to provide for my wife and son.
A Kiva loan will help me to purchase equipment and materials, as well as the ability to work from home. Working from home with my own equipment and materials will allow me to stay home with my family, and spend time with them. I plan to use the loan in the following ways: $3000 - Drum Carder, $1000 - Fiber Materials (wools, silk, etc.), $1000 - Workspace Storage and Organization, $1000 Tools and Notions for Equipment, $1000 Printer, Packing and Shipping Supplies.
Once I have the necessary equipment and materials, I will easily be able to make a profit of $2000/month to begin and will scale up as business increases.
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 Victoria Crossman
Lenders and lending teams
Country: United States
Trustee:
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:
What are Trustee tiers?
For for more information about Trustee tiers, visit: kivaushub.org/trustee-tiers
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