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

Partner description:
Vasham is a private company founded in 2011 that seeks to create market solutions for smallholder farmers in Indonesia.
As Indonesia’s middle class grows, demand for certain foods such as chicken is also increasing, along with the demand for maize used as animal feed in the livestock sector. Vasham offers no collateral loans, with crop insurance, that will help smallholder farmers grow their feed businesses, increase productivity, and guarantee them a fair price for their production.
Vasham has an agreement with Japfa, one of the largest animal feed companies in Indonesia with a market share of 30%. Under the agreement, farmers who receive the loans also sell their production to Japfa at a guaranteed price. Both organizations are heavily invested in by Handojo Santosa, an Indonesian businessman, but Vasham and Japfa do not share staff or profits.
A unique lending approach:
Kiva funding will be used to support Vasham’s loans focused on providing farmers with the resources to plant and harvest maize.
The farmers will receive 90% of harvest profits and Vasham receives the remaining 10%. To make this loan more accessible to smallholder farmers, Vasham asks that farmers form into groups of at least 10 and act as each other’s backers. They will also receive farm management training and field support from Vasham field officers. Farmers sell their entire production to an approved maize dryer owned by Japfa at a price above the market price, which guarantees them market access.
These loans will also provide farmers with price protection insurance (guaranteeing crops at a certain price even if the market price should fall) and insurance for crop failure due to extreme circumstances such as flooding, pests, drought, etc. 

Repayment Performance on Kiva

    This Field Partner All Kiva Partners
  Start Date On Kiva Dec 15, 2015 Oct 12, 2005
Total Loans $136,375 $974,903,975
Amount of raised Inactive loans $0 $446,850
Number of raised Inactive loans 0 211
Amount of Paying Back Loans $115,275 $147,400,875
Number of Paying Back Loans 38 183,981
Amount of Ended Loans $21,100 $827,056,250
Number of Ended Loans 8 1,039,701
Delinquency Rate 0.00% 8.21%
Amount in Arrears $0 $7,880,852
Outstanding Portfolio $115,275 $95,953,362
Number of Loans Delinquent 0 20,164
Default Rate 0.00% 1.39%
Amount of Ended Loans Defaulted $0 $11,517,038
Number of Ended Loans Defaulted 0 33,034
Currency Exchange Loss Rate 0.00% 0.45%
Amount of Currency Exchange Loss $0 $4,428,499
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 16.05% 75.40%
Average Loan Size $617 $399
Average Individual Loan Size $333 $629
Average Group Loan Size $3,148 $1,760
Average number of borrowers per group 5.1 7.7
Average GDP per capita (PPP) in local country $5,200 $5,874
Average Loan Size / GDP per capita (PPP) 11.87% 6.79%
Average Time to Fund a Loan 15.03 days 6.9 days
Average Dollars Raised Per Day Per Loan $41.06 $57.76
  Average Loan Term 6.77 months 11.13 months

Journaling Performance on Kiva

    This Field Partner All Kiva Partners
  Total Journals 0 509,194
  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 2009 data)

    This Field Partner Median for MFI's in Country All Kiva Partners
  Average Cost to Borrower N/A 40.00% PY 26.13% PY
  Profitability (return on assets) 1.3% 1.8% -1.72%
  Average Loan Size (% of per capita income) N/A 23.00% 16.60%

Country Fast Facts

Field Partner Staff

Mustofa Aziz
Aditya Sjahrandra