Solar and Energy Loan Fund, SELF, was founded in 2010 and focuses on community development projects in underserved areas in Florida, with an emphasis on home energy improvements.
 
SELF provides energy expertise and affordable financing to help low to mid-income homeowners and small businesses identify and make cost-effective energy changes to their homes and businesses.  
 
Energy costs are a disproportionate percentage of household expenses for low-income households and electricity costs have been steadily rising in Florida.
 
A unique lending approach:
 
SELF uses Kiva financing to help female homeowners save money on home energy and build or strengthen their credit rating.  These in-kind loans will be given in the form of energy efficiency upgrades or retrofits, and provided to low-income female homeowners that may not have solid credit history, but have income to repay a loan.
 
The energy efficiency improvements will increase home equity and home market value, provide more comfort and livability for the women and their children, and allow the homeowners to reduce costs.
 
SELF handles all project management; the borrower's only responsibility is to make monthly loan repayments.
 
Potential retrofits are identified through an energy audit performed by a state-certified energy rater. Once the SELF-approved contractors have completed the projects, if the retrofits are approved and up to SELF's standards, funds are then disbursed to contractors. Borrowers use energy savings, rebates, and tax credits to help pay off the loans over time.

 

Repayment Performance on Kiva

    This Field Partner All Kiva Partners
  Start Date On Kiva Jul 14, 2014 Oct 12, 2005
Total Loans $445,925 $949,032,850
Amount of raised Inactive loans $0 $380,625
Number of raised Inactive loans 0 283
Amount of Paying Back Loans $425,200 $142,308,325
Number of Paying Back Loans 67 175,526
Amount of Ended Loans $20,725 $806,343,900
Number of Ended Loans 3 1,011,305
Delinquency Rate 0.00% 8.01%
Amount in Arrears $0 $7,415,317
Outstanding Portfolio $313,015 $92,533,478
Number of Loans Delinquent 0 18,630
Default Rate 0.00% 1.40%
Amount of Ended Loans Defaulted $0 $11,313,280
Number of Ended Loans Defaulted 0 32,569
Currency Exchange Loss Rate 0.00% 0.46%
Amount of Currency Exchange Loss $0 $4,326,176
Refund Rate 1.27% 0.62%
Amount of Refunded Loans $5,675 $5,912,425
Number of Refunded Loans 1 5,951

Loan Characteristics On Kiva

    This Field Partner All Kiva Partners
  Loans to Women Borrowers 76.92% 75.25%
Average Loan Size $6,361 $400
Average Individual Loan Size $6,361 $632
Average Group Loan Size $0 $1,766
Average number of borrowers per group 0 7.7
Average GDP per capita (PPP) in local country $54,800 $5,889
Average Loan Size / GDP per capita (PPP) 11.61% 6.79%
Average Time to Fund a Loan 17.67 days 6.92 days
Average Dollars Raised Per Day Per Loan $359.95 $57.75
  Average Loan Term 61.48 months 11.11 months

Journaling Performance on Kiva

    This Field Partner All Kiva Partners
  Total Journals 0 494,772
  Journaling Rate 0.00% 41.50%
  Average Number of Comments Per Journal 0.00 0.05
  Average Number of Recommendations Per Journal 0.00 1.18

Borrowing Cost Comparison (based on 2016 data)

    This Field Partner Median for MFI's in Country All Kiva Partners
  Average Cost to Borrower 5% APR N/A 26.05% PY
  Profitability (return on assets) -14.9% N/A -0.82%
  Average Loan Size (% of per capita income) N/A N/A 17.16%

Country Fast Facts

Field Partner Staff

Duanne Andrade
Jacqueline Hudson