Kiva conducts regular, ongoing monitoring of all Field Partners, but only posts status updates here in response to relevant, major changes at the partner.

Prisma de Honduras, S.A. : “Préstamos que cambian vidas”. This translates literally to “Loans that change lives”, the well-known Kiva slogan.

One of Kiva’s first field partners, Prisma de Honduras, S.A. joined the Kiva family in 2008 in an effort to expand the institution’s funding sources, and to promote the Kiva concept in Honduras. Prisma de Honduras, S.A. is a for-profit institution, a member of the holding company Prisma Microfinance Inc., which is based in Boston, USA.

Prisma Microfinance, Inc. entered Honduras’ microfinance market as a new loan provider in February of 2004. The initiative began as a microfinance program in FINACOOP, a local agricultural cooperative, under an administrative agreement valid until July of 2006. After September of 2006 Prisma began to function as an independent company, aimed at expanding its operations through low cost business and service centers, and under its own organizational structure promoting a strong operational team to achieve its goals. Currently it is in a process of strengthening its operations and foundations.

PRISMA’s primary niche in the marketplace is micro and small entrepreneurs in the commercial, production, and service centers. It also targets individual wage/salary earners. Prisma provides loans for amounts between 5,000 Lps (~US$270) and 200,000 Lps.(~US$10,800); clients who receive loans for under 22,000Lps (~$1200) for commercial use and/or asset acquisition are eligible to be posted on the Kiva website.

PRISMA is a member of the Red de Microfinancieras de Honduras (REDMICROH), a national networking organization that unites member microfinance organizations to promote strong and stable service within the industry in Honduras. In 2008 the national magazine Miroempresas & Microfinanzas recognized Prisma with the “Premio Impulso MicroEmpresarial” for their work in supporting the development of MIPYMEs. 

As of September 2011, PRISMA has a total of 17 employees, 8 of whom are loan advisors. They operate out of four offices, serving four departments (Francisco Morazán, El Paraíso, Valle, and Choluteca). Its branches are located in the following cities:

  • Tegucigalpa
  • Danlí
  • San Lorenzo
  • Choluteca

PRISMA is also a Kiva lender!

Check out the Prisma lending team:

For all Prisma loans currently fundraising on Kiva, click here.

A note on Prisma's portfolio yield:

We care deeply about the cost that Kiva borrowers pay for their loans, which is why fair pricing is a core part of our initial due diligence process for Field Partners. With Kiva's 0% capital, many of our Field Partners are also able to add additional value to their loans by reducing interest rates, offering non-financial services or creating new loan products.

For partners with reported portfolio yields or average APRs higher than 50%, Kiva takes steps to check that the high rates are justified by the impact of the loans. Kiva also verifies that the partner is not generating unreasonable profits or paying inflated salaries, and that the partner’s elevated operating costs are justified by its operating environment and/or the design of its loan products.

We seek to support loans that don’t impose an unjustifiable cost burden on hard-working borrowers. We nevertheless recognize that in order to reach vulnerable and excluded people with high-impact products and services, some of our partners incur high costs that necessitate charging higher-than-average costs to borrowers in order to allow for sustainability and scale. With this partner, Kiva capital is supporting a loan product that costs less than the partner's typical products.

Factors that drive up the costs that this partner organization charges its borrowers include:

  • They’re based in an area with a high cost of living and doing business. This is often due to the high demand and low supply of adequate housing and goods.
  • They pay high interest rates on the loans they take from banks and other funders, given the market in which they operate. This means they need more support from innovative sources like Kiva to reduce costs and pass savings on to borrowers.
  • They work extensively in rural areas, which requires their employees to engage in costly travel to find and serve their clients.

Repayment Performance on Kiva

    This Field Partner All Kiva Partners
  Start Date On Kiva Jul 3, 2008 Oct 12, 2005
Total Loans $3,951,350 $975,604,775
Amount of raised Inactive loans $350 $454,250
Number of raised Inactive loans 1 219
Amount of Paying Back Loans $556,450 $147,820,250
Number of Paying Back Loans 624 184,624
Amount of Ended Loans $3,394,550 $827,330,275
Number of Ended Loans 5,050 1,040,061
Delinquency Rate 2.08% 8.14%
Amount in Arrears $8,319 $7,854,198
Outstanding Portfolio $399,103 $96,479,828
Number of Loans Delinquent 37 19,674
Default Rate 0.72% 1.39%
Amount of Ended Loans Defaulted $24,343 $11,517,921
Number of Ended Loans Defaulted 127 33,035
Currency Exchange Loss Rate 0.05% 0.45%
Amount of Currency Exchange Loss $2,077 $4,428,499
Refund Rate 0.27% 0.61%
Amount of Refunded Loans $10,475 $5,970,900
Number of Refunded Loans 11 5,987

Loan Characteristics On Kiva

    This Field Partner All Kiva Partners
  Loans to Women Borrowers 67.44% 75.40%
Average Loan Size $529 $399
Average Individual Loan Size $589 $629
Average Group Loan Size $1,374 $1,760
Average number of borrowers per group 3.3 7.7
Average GDP per capita (PPP) in local country $4,800 $5,874
Average Loan Size / GDP per capita (PPP) 11.02% 6.79%
Average Time to Fund a Loan 9.74 days 6.9 days
Average Dollars Raised Per Day Per Loan $54.29 $57.76
  Average Loan Term 10.52 months 11.13 months

Journaling Performance on Kiva

    This Field Partner All Kiva Partners
  Total Journals 5,877 509,580
  Journaling Rate 98.40% 41.50%
  Average Number of Comments Per Journal 0.02 0.05
  Average Number of Recommendations Per Journal 0.49 1.16

Borrowing Cost Comparison (based on 2014 data)

    This Field Partner Median for MFI's in Country All Kiva Partners
  Average Cost to Borrower 51% PY 36.00% PY 26.13% PY
  Profitability (return on assets) 3.2% 2.2% -1.72%
  Average Loan Size (% of per capita income) 40.60% 41.00% 16.60%

Country Fast Facts

Field Partner Staff

Edgar Fabricio Andrade
Carlos Barrientos
Eduin Lorenzo Carranza
Jose Luis Carranza
David Castellanos
Josue Centenu
Yoni Cruz
Felix Josue Diaz
Josue Reynaldy Flores
Carlos Funes
Cesar Garcia
Denis Adalid Garcia
Luis Garcia Rayo
Mariano Hernandez
Darwin Lopez
Esteban Miralda
Amilcar Munguia
Fredy Nolasco
Manuel Ramos
Carlos Rodriguez
Esteban Rodriguez
David Sanchez
Wilmer Sanchez
Fabricio Sandoval
Oscar Sandoval
Luis Torres
Jorvin Torrez
Gabriela Valeriano
Oscar Vargas