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

Status update — August 8, 2017
Kiva is moving WSDS Initiate from Inactive to Paused, as the organization is currently 12 months behind on repaying funds owed to Kiva lenders. While Kiva continues to actively monitor this situation, there are a variety of reasons why this organization has had difficulty making repayments recently.

The majority of WSDS’s borrowers live and work in the unstable Manipur state in North-Eastern India. Manipur has seen continued economic blockades and violent protests in the past several months which have made it difficult for WSDS and other microfinance institutions to operate. Due to the political and economic instability in this region and the ongoing protests, WSDS’s clients are facing challenges in their daily lives that make it difficult to repay their loans. In addition, this political instability has resulted in WSDS facing cashflow problems, and has therefore been unable to access liquid assets, such as cash and short term borrowing. This has strained its disbursement operations, causing it to be unable to repay Kiva and its lenders.

Kiva continue to work with this partner to recover the amount owed to Kiva lenders, and will provide additional relevant information as it becomes available.

Status update — December 26, 2016

Due to regulatory changes by the government of India, Kiva is no longer able to send funds to WSDS-Initiate. As a result, Kiva has moved this Field Partner to inactive status. This means WSDS-Initiate is no longer fundraising loans on the website, though Kiva fully expects the partner to continue to send repayments owed to Kiva lenders for as long as the partner has an outstanding balance. If the regulations change and this partner requests to fundraise on Kiva again, Kiva is willing to re-open their line of funding. We will first conduct any additional monitoring and due diligence tasks we believe necessary before allowing the partner begin fundraising for new loans.

Partner description:

WSDS-Initiate is a non-profit organization active in the northeastern Indian state of Manipur. Founded in 1989 to respond to ethnic conflict between the region’s three major tribes, WSDS has long supported young people, women, and vulnerable communities. Today, the organization is involved in a range of development activities, including resource management, community health, social security, and microfinance.

Working in four districts of the state, WSDS currently has seven branches, an outstanding portfolio of Rs. 21.6 million (about USD$390,000), and 13,052 women clients.

WSDS works with all of the tribes in Manipur, as well as other minority groups like Nepali immigrants and Muslims. Formal financial services are severely lacking in the state -- a problem that is particularly acute in low-income communities in the remote hills region. WSDS launched its microfinance program in 2007 to address this issue, and to sustain its existing initiatives.

Active primarily in the hills of Manipur, the organization primarily works with self-help groups to extend credit and encourage borrowers to save. Supporting these groups builds on local traditions. For example, the state’s Kuki community regularly forms cooperatives at the village level to provide agricultural support and leadership.

WSDS clients use Kiva-funded loans to start and grow their small businesses. Many of these individuals come from groups and communities that have been unable to obtain credit in the past due to scarcity of financial services and institutions in the region. Kiva’s zero-interest capital will also strengthen WSDS’ financial position, allowing it to expand all of its programs for social good.

Repayment Performance on Kiva

    This Field Partner All Kiva Partners
  Start Date On Kiva Aug 15, 2012 Oct 12, 2005
Total Loans $711,025 $994,015,325
Amount of raised Inactive loans $0 $257,450
Number of raised Inactive loans 0 304
Amount of Paying Back Loans $558,025 $153,841,625
Number of Paying Back Loans 331 195,782
Amount of Ended Loans $153,000 $839,916,250
Number of Ended Loans 95 1,055,620
Delinquency Rate N/A 8.69%
Amount in Arrears N/A $8,875,692
Outstanding Portfolio N/A $102,174,618
Number of Loans Delinquent N/A 30,836
Default Rate N/A (See Note) 1.42%
Amount of Ended Loans Defaulted N/A $11,890,081
Number of Ended Loans Defaulted N/A 34,252
Currency Exchange Loss Rate N/A 0.45%
Amount of Currency Exchange Loss N/A $4,501,882
Refund Rate 0.00% 0.60%
Amount of Refunded Loans $0 $5,985,075
Number of Refunded Loans 0 6,003

Loan Characteristics On Kiva

    This Field Partner All Kiva Partners
  Loans to Women Borrowers 100.00% 75.51%
Average Loan Size $212 $398
Average Individual Loan Size $1,696 $627
Average Group Loan Size $1,668 $1,756
Average number of borrowers per group 8.2 7.7
Average GDP per capita (PPP) in local country $4,000 $5,871
Average Loan Size / GDP per capita (PPP) 5.30% 6.78%
Average Time to Fund a Loan 6.22 days 6.92 days
Average Dollars Raised Per Day Per Loan $34.05 $57.54
  Average Loan Term 41.53 months 11.13 months

Journaling Performance on Kiva

    This Field Partner All Kiva Partners
  Total Journals 149 519,181
  Journaling Rate 13.80% 41.20%
  Average Number of Comments Per Journal 0.00 0.05
  Average Number of Recommendations Per Journal 0.00 1.14

Borrowing Cost Comparison (based on 2015 data)

    This Field Partner Median for MFI's in Country All Kiva Partners
  Average Cost to Borrower 19% PY 22.00% PY 26.28% PY
  Profitability (return on assets) 0.2% 1.2% -1.13%
  Average Loan Size (% of per capita income) 8.90% 10.00% 16.31%

Country Fast Facts

Field Partner Staff

Stasi Baranoff
Michelle Boyd
Wisaniu Chawang
Ronita Devi
eileen flannigan
Seikhothang Haokip
Lamkhomang Kipgen
Jenefer Leivon
Neipineng Sitlhou