Status update — February 16, 2017

Kiva and Milamdec have agreed to end their partnership after nearly 4 years and more than $1,500.00 in loans raised. Milamdec has repaid its outstanding balance to Kiva in full, and these funds have been distributed to lenders. We thank them for the years of collaboration and wish them success in their future endeavors.



Partner Description:

The Milamdec Foundation is a microfinance institution operating in 13 provinces across the Philippines. Its operations are largely focused in rural areas of north eastern Mindanao, an island located in the southern part of the Philippines.

 
Milamdec offers agricultural and small business loans that empower farmers to become self-sustaining entrepreneurs. Milamdec also offers a mortgage redemption loan for farmers. Many farmers in Milamdec previously sold their land to generate needed income. The income gain, however, was short term because the loss of land led to decreased productivity. Milamdec’s mortgage redemption loans help these farmers buy back their land.
 
Milamdec is expanding its financial service offerings and has developed a higher education loan. The education loan helps meet the demand students have for funds to cover tuition and educational related expenses. Milamdec has limited funding and depends on Kiva to help fund these new student loans.
 
A unique lending approach:
 
Milamdec’s higher education loans are targeted to students who have financial difficulties enrolling in academic courses. The students who receive the higher education loans are high school graduates from the most marginalized communities in Mindanao.
 
The loan is used to cover education expenses for semester-long technical degree courses. The tuition component of the loan is disbursed to the school, while the component that covers living and transportation expenses is given directly to the student. 

Repayment Performance on Kiva

    This Field Partner All Kiva Partners
  Start Date On Kiva Jan 9, 2015 Oct 12, 2005
Total Loans $1,500 $973,426,675
Amount of raised Inactive loans $0 $453,325
Number of raised Inactive loans 0 230
Amount of Paying Back Loans $0 $146,082,550
Number of Paying Back Loans 0 182,274
Amount of Ended Loans $1,500 $826,890,800
Number of Ended Loans 6 1,039,570
Delinquency Rate 0.00% 8.35%
Amount in Arrears $0 $7,901,679
Outstanding Portfolio $0 $94,659,120
Number of Loans Delinquent 0 20,373
Default Rate 0.00% 1.39%
Amount of Ended Loans Defaulted $0 $11,517,049
Number of Ended Loans Defaulted 0 33,034
Currency Exchange Loss Rate 0.00% 0.45%
Amount of Currency Exchange Loss $0 $4,428,385
Refund Rate 0.00% 0.61%
Amount of Refunded Loans $0 $5,967,400
Number of Refunded Loans 0 5,984

Loan Characteristics On Kiva

    This Field Partner All Kiva Partners
  Loans to Women Borrowers 83.33% 75.39%
Average Loan Size $250 $399
Average Individual Loan Size $250 $629
Average Group Loan Size $0 $1,759
Average number of borrowers per group 0 7.7
Average GDP per capita (PPP) in local country $7,000 $5,875
Average Loan Size / GDP per capita (PPP) 3.57% 6.79%
Average Time to Fund a Loan 0.21 days 6.9 days
Average Dollars Raised Per Day Per Loan $1,180.07 $57.75
  Average Loan Term 6.33 months 11.13 months

Journaling Performance on Kiva

    This Field Partner All Kiva Partners
  Total Journals 0 509,005
  Journaling Rate 0.00% 41.50%
  Average Number of Comments Per Journal 0.00 0.05
  Average Number of Recommendations Per Journal 0.00 1.16

Borrowing Cost Comparison (based on 2013 data)

    This Field Partner Median for MFI's in Country All Kiva Partners
  Average Cost to Borrower 43% APR 46.00% PY 26.12% PY
  Profitability (return on assets) 1.8% 4.8% -1.72%
  Average Loan Size (% of per capita income) N/A 8.00% 16.65%

Country Fast Facts

Field Partner Staff