September 11, 2011

As part of an ongoing effort to fully migrate risk ratings to our new and enhanced risk rating system, Kiva has conducted a re-assessment of the level of risk posed by this institution.

During this re-assessment, our analysts were able to gather updated operational and financial information about the institution, as well as speak with key members of the staff. 

Kiva's new risk rating system, which now includes half stars, has enabled us to display Prisma Honduras's risk rating with a higher level of granularity. As a result, Prisma Honduras's risk rating will now be displayed as 2.5 stars instead of 3 stars. 

We have prepared a blog post with more information on Kiva's new and enhanced risk rating system, along with a chart showing the relative magnitude of the overall changes for Kiva's portfolio.  To view that, please go here:

Prisma Honduras has been informed of the change in the display of their rating on Kiva's website.

Original Partner Description

Prisma de Honduras, S.A. : “Préstamos que cambian vidas”. This translates literally to “Loans that change lives”, the well-known Kiva slogan.

One of Kiva’s first field partners, Prisma de Honduras, S.A. joined the Kiva family in 2008 in an effort to expand the institution’s funding sources, and to promote the Kiva concept in Honduras. Prisma de Honduras, S.A. is a for-profit institution, a member of the holding company Prisma Microfinance Inc., which is based in Boston, USA.

Prisma Microfinance, Inc. entered Honduras’ microfinance market as a new loan provider in February of 2004. The initiative began as a microfinance program in FINACOOP, a local agricultural cooperative, under an administrative agreement valid until July of 2006. After September of 2006 Prisma began to function as an independent company, aimed at expanding its operations through low cost business and service centers, and under its own organizational structure promoting a strong operational team to achieve its goals. Currently it is in a process of strengthening its operations and foundations.

PRISMA’s primary niche in the marketplace is micro and small entrepreneurs in the commercial, production, and service centers. It also targets individual wage/salary earners. Prisma provides loans for amounts between 5,000 Lps (~US$270) and 200,000 Lps.(~US$10,800); clients who receive loans for under 22,000Lps (~$1200) for commercial use and/or asset acquisition are eligible to be posted on the Kiva website.

PRISMA is a member of the Red de Microfinancieras de Honduras (REDMICROH), a national networking organization that unites member microfinance organizations to promote strong and stable service within the industry in Honduras. In 2008 the national magazine Miroempresas & Microfinanzas recognized Prisma with the “Premio Impulso MicroEmpresarial” for their work in supporting the development of MIPYMEs. 

As of September 2011, PRISMA has a total of 17 employees, 8 of whom are loan advisors. They operate out of four offices, serving four departments (Francisco Morazán, El Paraíso, Valle, and Choluteca). Its branches are located in the following cities:

  • Tegucigalpa
  • Danlí
  • San Lorenzo
  • Choluteca

PRISMA is also a Kiva lender!

Check out the Prisma lending team:

For all Prisma loans currently fundraising on Kiva, click here

Repayment Performance on Kiva

    This Field Partner All Kiva Partners
  Start Date On Kiva Jul 3, 2008 Oct 12, 2005
Total Loans $2,502,525 $592,679,350
Amount of raised Inactive loans $0 $777,500
Number of raised Inactive loans 0 601
Amount of Paying Back Loans $356,875 $116,741,200
Number of Paying Back Loans 502 123,958
Amount of Ended Loans $2,145,650 $475,160,650
Number of Ended Loans 3,322 602,990
Delinquency Rate 3.09% 3.97%
Amount in Arrears $7,130 $2,990,527
Outstanding Portfolio $230,910 $75,270,121
Number of loanDelinquent 53 11,920
Default Rate 0.57% 1.12%
Amount of Ended Loans Defaulted $12,130 $5,344,932
Amount of Ended Loans $2,145,650 $475,160,650
Number of Ended Loans Defaulted 62 16,810
Currency Exchange Loss Rate 0.00% 0.09%
Amount of Currency Exchange Loss $114 $538,749
Refund Rate 0.19% 0.77%
Amount of Refunded Loans $4,700 $4,537,625
Number of Refunded Loans 8 5,064

Loan Characteristics On Kiva

    This Field Partner All Kiva Partners
  Loans to Women Borrowers 72.09% 74.19%
Average Loan Size $508 $418
Average Individual Loan Size $581 $656
Average Group Loan Size $1,168 $1,828
Average number of borrowers per group 3.3 8
Average GDP per capita (PPP) in local country $4,200 $3,430
Average Loan Size / GDP per capita (PPP) 12.09% 12.19%
Average Time to Fund a Loan 8.18 days 5.61 days
Average Dollars Raised Per Day Per Loan $62.04 $74.58
  Average Loan Term 9.64 months 10.35 months

Journaling Performance on Kiva

    This Field Partner All Kiva Partners
  Total Journals 2,550 296,500
  Journaling Rate 65.13% 42.37%
  Average Number of Comments Per Journal 0.04 0.08
  Average Number of Recommendations Per Journal 1.08 1.87

Borrowing Cost Comparison (based on 2012 data)

    This Field Partner Median for MFI's in Country All Kiva Partners
  Average Cost to Borrower 43% PY 36.00% PY 33.27% PY
  Profitability (return on assets) 3.8% 2.2% -1.45%
  Average Loan Size (% of per capita income) 40.60% 41.00% 40.88%

Country Fast Facts

Field Partner Staff

Luis Andero
David Castellanos
Noe Corrales
Roberto Diaz
Juan Octavio Espino
Ramon Fernando Perez
Denis Adalid Garcia
Luis Garcia
Reyna Elizabeth Leberon
Filadelfo Mahoudeau
José Carlos Martinez
Marco Nuñez
Marcos Antonio Osorto
Marcos Perdomo
Yadira Reyes
Elias Rivas
Katte Romero
Fabricio Sandoval
Alvaro Sosa
Orbelina Valeriano
Susan Velazquez Tegus
Edgar Ramon Zelaya