Status update - December 13th 2021


Avansar's final loans with Kiva have defaulted, and this partnership is now closed. For the last 18 months, Kiva has been working with Avansar to try to recover the remaining outstanding amounts due to Kiva lenders. Kiva’s present assessment is that this Lending Partner is unable to make further payments, and thus the remaining $2,900.64 in outstanding amounts due to Kiva lenders has been defaulted. If Kiva is able to recover any additional funds from Avansar, they will be applied to lenders' accounts on a pro-rata basis.



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


Partner description:

Asociación ONG Avansar is a small non-profit microfinance institution focused on addressing the lack of financial services in rural eastern Colombia. In addition to providing loans to those in need of credit, Avansar offers technical assistance that includes financial education and business training to maximize productivity and competitiveness. Avansar is also involved in the administration of large scale projects such as road construction and infrastructure maintenance contracted by both public and private institutions.


A unique Lending approach:


Avansar’s unique lending approach focuses on borrowers with no credit history. Loans fundraised on Kiva carry a reduced interest rate, flexible repayment options, and are accompanied by financial education. In addition to meeting poverty level qualifications, only clients that have never had a loan before will be offered the Kiva loan product.

 


Repayment Performance on Kiva

    This Lending Partner All Kiva Partners
  Start Date On Kiva Jan 4, 2016 Oct 12, 2005
Total Loans $110,650 $1,952,996,740
Amount of raised Inactive loans $0 $491,425
Number of raised Inactive loans 0 352
Amount of Paying Back Loans $0 $156,072,090
Number of Paying Back Loans 0 183,328
Amount of Ended Loans $110,650 $1,767,443,865
Number of Ended Loans 169 2,368,761
Delinquency Rate 0.00% 10.59%
Amount in Arrears $0 $10,063,497
Outstanding Portfolio $0 $95,020,438
Number of Loans Delinquent 0 42,901
Default Rate 3.15% 1.82%
Amount of Ended Loans Defaulted $3,488 $32,212,202
Number of Ended Loans Defaulted 20 84,629
Currency Exchange Loss Rate 0.47% 0.50%
Amount of Currency Exchange Loss $524 $11,931,838
Refund Rate 1.08% 0.54%
Amount of Refunded Loans $1,200 $10,472,500
Number of Refunded Loans 2 9,545

Loan Characteristics On Kiva

    This Lending Partner All Kiva Partners
  Loans to Women Borrowers 74.09% 78.22%
Average Loan Size $654 $392
Average Individual Loan Size $654 $589
Average Group Loan Size $0 $1,889
Average number of borrowers per group 0 8.3
Average GDP per capita (PPP) in local country $11,100 $5,599
Average Loan Size / GDP per capita (PPP) 5.89% 6.99%
Average Time to Fund a Loan 13.77 days 8.92 days
Average Dollars Raised Per Day Per Loan $47.51 $43.91
  Average Loan Term 18.82 months 11.46 months

Journaling Performance on Kiva

    This Lending Partner All Kiva Partners
  Total Journals 19 1,176,320
  Journaling Rate 11.24% 42.29%
  Average Number of Comments Per Journal 0.00 0.02
  Average Number of Recommendations Per Journal 0.00 0.57

Borrowing Cost Comparison (based on 2017 data)

    This Lending Partner Median for MFI's in Country All Kiva Partners
  Average Cost to Borrower 19% APR 32.00% PY 26.92% PY
  Profitability (return on assets) N/A 5.1% -3.11%
  Average Loan Size (% of per capita income) N/A 23.00% 0.00%

Country Fast Facts

Lending Partner Staff