Status update - November 24, 2020
2020 has not been kind to small businesses and Extensio is no exception. By the end of May, due to the effects of COVID-19, Extensio lost their second largest contract and made the difficult decision to close the company. Fortunately, when communicating this decision to their network, various acquisition opportunities arose and they were able to close a deal with another social entrepreneur, Acceso, aligned with their vision of positive social change in the rural communities of Latin America. The deal value is symbolic, and unfortunately does not enable them to reimburse their Kiva loan and as such, we are defaulting this loan on Kiva. However, this deal will allow Extensio's vision to continue and their impact to scale.
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.
Repayment Performance on Kiva
|
|
This Lending Partner |
All Kiva Partners |
|
Start Date On Kiva |
Apr 18, 2019 |
Oct 12, 2005 |
|
Total Loans |
$32,000 |
$2,017,905,110 |
|
Amount of raised Inactive loans |
$0 |
$357,275 |
|
Number of raised Inactive loans |
0 |
176 |
|
Amount of Paying Back Loans |
$0 |
$157,974,050 |
|
Number of Paying Back Loans |
0 |
190,165 |
|
Amount of Ended Loans |
$32,000 |
$1,822,317,985 |
|
Number of Ended Loans |
1 |
2,448,909 |
|
Delinquency Rate |
0.00% |
12.69% |
|
Amount in Arrears |
$0 |
$12,319,588 |
|
Outstanding Portfolio |
$0 |
$97,105,837 |
|
Number of Loans Delinquent |
0 |
71,382 |
|
Default Rate |
100.00% |
1.83% |
|
Amount of Ended Loans Defaulted |
$32,000 |
$33,320,922 |
|
Number of Ended Loans Defaulted |
1 |
87,367 |
|
Currency Exchange Loss Rate |
0.00% |
0.48% |
|
Amount of Currency Exchange Loss |
$0 |
$12,416,364 |
|
Refund Rate |
0.00% |
0.54% |
|
Amount of Refunded Loans |
$0 |
$10,929,050 |
|
Number of Refunded Loans |
0 |
9,661 |
Loan Characteristics On Kiva
Journaling Performance on Kiva
Borrowing Cost Comparison (based on 2009 data)