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:
VisionSpring is a nonprofit organization currently selling low-cost and high-quality eyeglasses around the world to those in need. With a business model that combines high volume and low margins, they can provides customers with affordable and durable glasses.
Operating under the belief that "if you can't see you can't work or learn,” VisionSpring’s initial innovation was creating a micro-franchise model. The organization trained local individuals to educate their communities about vision loss, conduct eye screenings, sell affordable non-prescription eyeglasses and provide referrals to VisionSpring's optical shops for prescription glasses, travelling from village to village. In an effort to further scale their model, VisionSpring developed a partnership program that incorporates local organizations as local partners. These partners assume all costs of the program and manage its development while VisionSpring provides access to eyeglasses and technical support. This model leverages existing distribution channels available to partners, allowing for the programs to generate greater impact and reach more people.
VisionSpring has continued developing their business model and joined Kiva to build a mechanism to support less experienced local partners, providing them with the technical and marketing expertise to succeed as local distributors.Thanks to its experience with established local partners (such as BRAC), VisionSpring has developed best practices on sales, marketing and distribution that they will actively share and help implement with local partners, increasing their reach and allowing for more communities in need to access eye-wear and care.

A unique lending approach:
VisionSpring’s loans on Kiva will enable more local partners to begin providing eye care and products. The model requires partners to make an upfront payment of the eyeglasses shipment price, which has been a key obstacle for smaller partners and limited the growth of the partnership model. VisionSpring loans funded through Kiva will help small local distribution partners that might lack a track record in selling eyeglasses but have the potential and infrastructure to do so.

Repayment Performance on Kiva

    This Field Partner All Kiva Partners
  Start Date On Kiva Jun 10, 2016 Oct 12, 2005
Total Loans $3,000 $950,163,500
Amount of raised Inactive loans $0 $380,025
Number of raised Inactive loans 0 253
Amount of Paying Back Loans $3,000 $143,384,925
Number of Paying Back Loans 1 176,947
Amount of Ended Loans $0 $806,398,550
Number of Ended Loans 0 1,011,339
Delinquency Rate 66.67% 7.90%
Amount in Arrears $2,000 $7,392,890
Outstanding Portfolio $3,000 $93,612,730
Number of Loans Delinquent 1 18,512
Default Rate 0.00% 1.40%
Amount of Ended Loans Defaulted $0 $11,324,683
Number of Ended Loans Defaulted 0 32,583
Currency Exchange Loss Rate 0.00% 0.46%
Amount of Currency Exchange Loss $0 $4,326,176
Refund Rate 0.00% 0.62%
Amount of Refunded Loans $0 $5,912,425
Number of Refunded Loans 0 5,951

Loan Characteristics On Kiva

    This Field Partner All Kiva Partners
  Loans to Women Borrowers 0.00% 75.25%
Average Loan Size $3,000 $400
Average Individual Loan Size $3,000 $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 $2,300 $5,889
Average Loan Size / GDP per capita (PPP) 130.43% 6.79%
Average Time to Fund a Loan 4.12 days 6.93 days
Average Dollars Raised Per Day Per Loan $727.84 $57.67
  Average Loan Term 10 months 11.11 months

Journaling Performance on Kiva

    This Field Partner All Kiva Partners
  Total Journals 3 494,959
  Journaling Rate 100.00% 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 2015 data)

    This Field Partner Median for MFI's in Country All Kiva Partners
  Average Cost to Borrower 6% APR N/A 26.03% PY
  Profitability (return on assets) 8.93% N/A -0.81%
  Average Loan Size (% of per capita income) N/A N/A 17.16%

Country Fast Facts

Field Partner Staff

Sam Brundrett