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Mikrofond's mission is to support entrepreneurs in Bulgaria by providing alternative sources of financing for start-ups and small and medium businesses which do not have access to the bank system sources of capital.
Albena Marinova
Bulgaria > Mikrofond EAD
About the Field Partner
About the Field Partner
| Field Partner: | Mikrofond EAD |
|---|---|
| Field Partner Risk Rating: | |
| Time On Kiva: | 36 months |
| Kiva Entrepreneurs: | 258 |
| Total Loans: | $337,600 |
| Delinquency Rate: | N/A - No Paying Back Loans |
| Default Rate: | 0.00% |
| Currency Exchange Loss Rate: | 0.00% |
| See all loans from this field partner >> |
Kiva Fundraising Status
Kiva Fundraising Status
| Fundraising Status: | Paused |
|---|---|
See all fundraising loans from this field partner >>
|
Other Information Sources
Other Information Sources
| MIX Profile: | View MIX Profile |
|---|---|
| Network Affiliation: | MFC - Microfinance Centre for Central and Eastern Europe and the New Independent States |
| Social Performance Reporting Level: | N/A |
| Consumer Protection Principles: | N/A |
| Field Partner Website: | View Website |
| Email Contact: | None |
Mikrofond's mission is to support entrepreneurs in Bulgaria by providing alternative sources of financing for start-ups and small and medium businesses which do not have access to the bank system sources of capital. Their aim is to create the first sustainable microfinancing non-banking institution in Bulgaria, because they believe that small business entrepreneurs are the engine of the economic development and have the greatest growth potential.
Their clients are all economically active people who cannot access funding for their business projects from the existing banks and other financing institutions.
For more information, please visit their website at:
http://www.micro.ngorc.net/en/
Mikrofond EAD can be contacted via email at breskovski@ngorc.net
Repayment Performance on Kiva
Repayment Performance on Kiva
| This Field Partner | All Kiva Partners | ||
| Start Date On Kiva | Oct 26, 2006 | Oct 12, 2005 | |
|---|---|---|---|
| Total Loans | $337,600 | $101,929,710 | |
| Amount of Raised Inactive Loans | $0 | $111,475 | |
| Number Of Raised Inactive Loans | 0 | 164 | |
| Amount of Paying Back Loans | $0 | $44,703,125 | |
| Number Of Paying Back Loans | 0 | 63,327 | |
| Amount of Ended Loans | $337,600 | $57,115,110 | |
| Number Of Ended Loans | 258 | 83,635 | |
| Delinquency Rate | 0.00% | 4.28% | |
| Amount of Paying Back Loans Delinquent | $0 | $1,913,000 | |
| Amount of Paying Back Loans | $0 | $44,703,125 | |
| Number of Paying Back Loans Delinquent | 0 | 6,018 | |
| Default Rate | 0.00% | 1.96% | |
| Amount of Ended Loans Defaulted | $0 | $1,119,957 | |
| Amount of Ended Loans | $337,600 | $57,115,110 | |
| Number Of Ended Loans Defaulted | 0 | 3,369 | |
| Currency Exchange Loss Rate | 0.00% | 0.00% | |
| Amount of Currency Exchange Loss | $0 | $0 | |
| Refund Rate | 0.00% | 1.09% | |
| Amount of Refunded Loans | $0 | $1,112,375 | |
| Number Of Refunded Loans | 0 | 1,446 | |
| Updated as of November 21, 2009 1:09 AM | |||
Loan Characteristics On Kiva
Loan Characteristics On Kiva
| This Field Partner | All Kiva Partners | ||
| Loans to Women Entrepreneurs | 39.53% | 78.21% | |
|---|---|---|---|
| Average Loan Size | $1,309 | $403 | |
| Average Individual Loan Size | $1,309 | $591 | |
| Average Group Loan Size | $0 | $1,494 | |
| Average Number Of Entrepreneurs Per Group | 0 | 0 | |
| Average GDP Per Capita (PPP) in Local Country | $10,844 | $3,463 | |
| Average Loan Size / GDP Per Capita (PPP) | 12.07% | 11.65% | |
| Average Time To Fund A Loan | 7.43 days | 2.27 days | |
| Average Dollars Raised Per Day Per Loan | $176.11 | $177.73 | |
| Average Loan Term | 13.31 months | 9.31 months | |
| Updated as of November 21, 2009 1:09 AM | |||
Journaling Performance on Kiva
Journaling Performance on Kiva
| This Field Partner | All Kiva Partners | ||
| Total Journals | 0 | 51642 | |
|---|---|---|---|
| Journal Coverage | 0.00% | 28.22% | |
| Journal Coverage, Kiva Fellows | 0.00% | 0.21% | |
| Journal Frequency (Average Per Loan Per Year) | 0.00 | 0.32 | |
| Average Number Of Recommendations Per Journal | 0.00 | 10.30 | |
| Updated as of November 21, 2009 1:09 AM | |||
Borrowing Cost Comparison
Borrowing Cost Comparison
| This Field Partner | Median for MFI Peers in Country | All Kiva Partners | ||
| Average Interest Rate and Fees Borrowers Pay (Portfolio Yield) | 23% | 23% | 35.21% | |
|---|---|---|---|---|
| Average Loan Size (% of Per Capita Income) | 73% | 63% | 23.43% | |
| Average Partner Return On Assets | -1% | -1% | 0.24% |
Field Partner Staff
Georgi BreskovskiAlbena Marinova
Country Fast Facts
Country Fast Facts
| Country: Bulgaria |
| Capital: Sofia |
| Official Language: The official language is Bulgarian, and nearly all inhabitants speak it. About half of the Turkish population speaks Turkish as its mother tongue. Bulgarian is a Slavic language that uses an alphabet first developed in the ninth century by Cyril and Methodise. English is now the most popular language for children to study, followed by German and French. |
| Population: 7,450,349 |
| Avg Annual Income: $10,844 |
| Labor Force: agriculture 11%, industry 32.7%, services 56.3% |
| Population Below Poverty Line: 13.4% |
| Literacy Rate: 98.60 |
| Infant Mortality Rate (per 1000): 20.55 deaths |
| Life Expectancy: 72.03 years |
| Currency: Bulgaria Leva |
| Exchange Rate: 1.3160 BGN = 1 USD |
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