Fundraising Status:closed
Risk Rating:
What to know about this Lending Partner
Impact Category:
Other
Default Rate:
0%
Currency Exchange Loss Rate:
0%
Total Loans Raised:
$4,825
Loans at Risk Rate:
0%
Kiva Borrowers:
2
Delinquency Rate:
0%
Interests and Fees:
N/A
Kiva and Local Alike have agreed to end their partnership after 5 years and $5k in loans raised. Local Alike has repaid their outstanding balance to Kiva in full, and these funds have been distributed to lenders. We thank Local Alike for the years of collaboration and wish them success in their future endeavors.
Partner description:
Local Alike is a for-profit social enterprise that helps remote communities in Thailand develop sustainable, community-based tourism programs. Local Alike assists communities in designing tourism programs that will provide income for community members and help preserve the local culture. They currently have established relationships with ethnic minority communities including the Akha and Hmong groups in the northwestern part of Thailand and the Isaan area in the northeastern province. These villages have a strong sense of community and desire to maintain their culture.
The organization has created an online platform that will enable travelers to find and book opportunities to stay in the communities. The communities keeps 80% of the total profit from bookings.
A unique lending approach:
Local Alike is focused primarily on working with remote communities in underserved parts of Thailand where tourism income could make a substantial impact on the village economy.
Local Alike helps communities invest in the basic infrastructure they need to begin attracting tourists. Each community establishes a committee composed of village leadership and a Local Alike staff advisor. The committee manages loan funds, projects and income earned from tourism, and decides which projects to invest in.
Loans are used to improve homes and roads, construct guest houses, install street lights, implement trash collection and other community development projects.