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

Kiva HelpRepayment Performance on Kiva

    This Field Partner All Kiva Partners
  Start Date On Kiva Jul 3, 2008 Oct 12, 2005
Total Loans $2,288,425 $536,584,175
Amount of Raised Inactive Loans $0 $240,350
Number Of Raised Inactive Loans 0 240
Amount of Paying Back Loans $294,400 $108,976,300
Number Of Paying Back Loans 477 112,332
Amount of Ended Loans $1,994,025 $427,367,525
Number Of Ended Loans 3,054 549,352
Delinquency Rate 3.78% 3.52%
Amount In Arrears $6,131 $2,470,527
Outstanding Portfolio $162,226 $70,115,648
Number of Loans Delinquent 49 10,959
Default Rate 0.41% 1.01%
Amount of Ended Loans Defaulted $8,273 $4,335,486
Amount of Ended Loans $1,994,025 $427,367,525
Number Of Ended Loans Defaulted 40 14,050
Currency Exchange Loss Rate 0.00% 0.06%
Amount of Currency Exchange Loss $0 $298,028
Refund Rate 0.21% 0.82%
Amount of Refunded Loans $4,700 $4,417,000
Number Of Refunded Loans 8 4,864

Kiva HelpLoan Characteristics On Kiva

    This Field Partner All Kiva Partners
  Loans To Women Entrepreneurs 71.88% 74.09%
Average Loan Size $505 $417
Average Individual Loan Size $581 $656
Average Group Loan Size $1,118 $1,811
Average Number Of Entrepreneurs Per Group 3.3 8
Average GDP Per Capita (PPP) in Local Country $4,200 $3,463
Average Loan Size / GDP Per Capita (PPP) 12.03% 12.04%
Average Time To Fund A Loan 7.55 days 5.27 days
Average Dollars Raised Per Day Per Loan $66.90 $79.06
  Average Loan Term 9.48 months 10.04 months

Kiva HelpJournaling Performance on Kiva

    This Field Partner All Kiva Partners
  Total Journals 2,035 268,469
  Journaling Rate 60.01% 42.12%
  Average Number Of Comments Per Journal 0.04 0.09
  Average Number Of Recommendations Per Journal 1.35 2.06

Kiva HelpBorrowing Cost Comparison (based on 2011 data)

    This Field Partner Median for MFI Peers in Country All Kiva Partners
  Portfolio Yield 37.60% 36.70% 34.93%
  Profitability (Return on Assets) 3.5% 2.1% -1.11%
  Average Loan Size (% of Per Capita Income) 40.60% 40.10% 42.70%

Kiva HelpCountry Fast Facts

Field Partner Staff

Sandra Jackeline Barahona
Noe Corrales
Roberto Diaz
Lucy Escoto
Juan Octavio Espino
Ramon Fernando Perez
Denis Adalid Garcia
Luis Garcia
Reyna Elizabeth Leberon
Karen Iveth Lopez
Filadelfo Mahoudeau
José Carlos Martinez
Catalina Morales
David Ariel Osorto
Marcos Antonio Osorto
Yadira Reyes
Fabricio Sandoval
Jose Gilberto Sandoval
Alvaro Sosa
Orbelina Valeriano
Susan Velazquez Tegus
Edgar Ramon Zelaya