N/A, direct to Sikubora

N/A, direct to Sikubora

Lending Partner since 2017 • Tanzania
Fundraising Status:closed
Risk Rating:

What to know about this Lending Partner

Impact Category:
Clean Energy
Default Rate:
50%
Currency Exchange Loss Rate:
0%
Total Loans Raised:
$60,000
Loans at Risk Rate:
0%
Kiva Borrowers:
3
Delinquency Rate:
0%
Interests and Fees:
N/A
See all previous loans See all fundraising loans

Status update - November 3, 2020

Since mid-2019, Sikubora has been facing financial and operational problems mainly linked to client high delinquency and default rates. Despite efforts to address them and pivot their business model, Sikubora's problems were compounded by the Covid-19 pandemic. The company hasn't generated any profits in the last 12 months and prospects for loan recovery are minimal. Because of the lack of clarity in future payments, we are defaulting this loan. Kiva will try to stay in touch with Sikubora and hopes to be able to share better news in the near future. If/when Sikubora does make repayment to Kiva, they will be passed along to lenders.

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.