Status update — February 28, 2020

Kiva and TerraClear Development have agreed to end their partnership after nearly 6 years and more than $1.2M USD in loans raised. This partner has repaid its outstanding balance to Kiva in full, and these funds have been distributed to lenders. We thank TerraClear Development for the years of collaboration and wish them success in their future endeavors.

Status update — August 18, 2017

Kiva recently re-assessed the level of risk associated with loans from this Lending Partner. During this process, our analysts gathered updated operational and financial information about the institution, spoke with key members of the staff and analyzed the Lending Partner’s loan products. As a result, TerraClear's risk rating is now listed as 0.5 stars instead of 1 star. The primary reason for this change in rating is the worsening of their financial situation.

Status update — September 15, 2016

In early 2016, TerraClear faced unexpected operational difficulties that resulted in cash flow issues at the organization. They have since revamped their credit processes and agreed upon a repayment plan with Kiva, where the organization will pay off the outstanding balance over a 12 month period, or possibly earlier if circumstances permit. So far they are keeping track with the plan and Kiva is confident this partner will repay the amount owed to lenders in time, thus reducing their delinquency rate on Kiva. Kiva has allowed TerraClear to continue to fundraise for new loans as they work to repay, and continues to actively monitor the situation.