Status update — February 25, 2020
Nke-Anyi’s final loans with Kiva have been defaulted, and this partnership is now closed. Kiva and Nke-Anyi agreed upon a payment plan in September 2018, but Kiva only received $1,490.00 of the payment commitments made in this plan. Kiva’s present assessment is that this Lending Partner is unable to make any further payments, and thus the remaining $38,930.70 in outstanding amounts due to Kiva lenders has been defaulted. If we are able to recover any additional funds from Nke-Anyi, they will be applied to lenders' accounts on a pro-rata basis. We are confident your loans still made a positive impact on the clients that received them. Thank you for your understanding and support.

Status Update - August 15,2019
Nke-Anyi currently has $38,930.70 outstanding in Kiva funds. Despite the agreement made last year of monthly installments, Nke-Anyi has so far only made a single payment of $1,490 in May 2019. Kiva continues to be in contact with this partner to encourage repayment of lender funds and will keep lenders informed of any updates.

Status Update – April 29,2019
 
Nke-Anyi currently has $40,420.70 outstanding in Kiva funds. In December 2018, Nke-Anyi agreed to a modified repayment plan with monthly installments, however, Nke-Anyi has unfortunately not yet honored this repayment agreement. Kiva continues to advocate for repayment of lender funds and will post updates to this page as new information becomes available.

Status Update — September 5, 2018

Kiva has chosen to wind down our partnership with Nke-Anyi. Nke-Anyi has been in good standing with Kiva since the beginning of the partnership in April, 2014. Due to the organization's small size and depreciation of the local currency against the USD, paying Kiva back will hinder Nke-Anyi's operations. To ensure it can continue to operate, the organization requested to repay Kiva in monthly installments over a 3-year period. Per this repayment agreement, Nke-Anyi will repay $1,200 per month until their balance is fully repaid. These repayments will be settled out to Kiva lenders on a pro rata basis as they are received. Kiva thanks Nke-Anyi for their partnership and will continue to post updates to this page as appropriate.

Partner Description:

Nke-Anyi Farmers Multipurpose Cooperative Society, registered in 1998, was established to empower rural palm oil millers working in the southeastern Nigerian states of Anambra, Imo, Abia and Rivers State.
 
The organization works with clients to provide access to financial services, training, access to markets and SMS-based information around palm oil prices. Each member of the cooperative saves a certain amount per month, and then these funds are disbursed to society members throughout the year.
 
A unique lending approach:
 
Nke-Anyi is a cooperative in Nigeria that provides its clients, palm oil millers, with access to financial services and markets, training and helpful information.
 
The co-op functions as a merry-go-round, where all members save a certain amount per month. These funds are then dispersed to society members throughout the year.
 
The organization acts as a savings institution for clients, where each loan generates a return that is divided amongst the members at the end of the year as a proportion of what they put in. Each loan can be used for palm oil processing, storage, and equipment.
 
In addition to financing, Nke-Anyi also provides clients with training in palm oil processing and access to markets. The organization has also implemented a SMS service that provides the daily market price of palm oil, along with tips and notes about farming.
 
Unfortunately, the organization is currently unable to lend to each person who applies for a loan. With Kiva’s support, all clients could receive a loan in a year.