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:

Fundación ESPOIR("mi bankito") is an Ecuadorian NGO that specializes in communal banking for hard-working women. The organization is based in Quito and has two branch offices outside of the city, one in Azuay (Cuenca) and one in Manabi (Portoviejo).

ESPOIR serves low-income women who live in the marginalized urban and rural areas of Ecuador and who are unable to afford basic necessities. These women may or may not have previous business experience. To qualify for credit through ESPOIR, the only requirement is that they commit themselves to working hard, learning new skills, and improving life for their families.

The majority of ESPOIR's portfolio is dedicated to group loans. However, its individual loan sector is growing, as long-standing entrepreneurs with ESPOIR "graduate" from group loans to take on larger amounts. In addition, ESPOIR offers emergency, university and home improvement loan products.

As of December 2010, ESPOIR had over 70,000 borrowers who are virtually all women, with a portfolio of over $42 million.

A unique lending approach:

The health and financial literacy services Fundación ESPOIR provides to clients distinguishes it from most microcredit organizations in Ecuador. Educational topics range from setting personal and business goals to understanding reproductive health and nutrition. The Cuenca office also includes a medical clinic where about 300 entrepreneurs a month receive health services for themselves and their families from the two doctors on staff.



Repayment Performance on Kiva

    This Field Partner All Kiva Partners
  Start Date On Kiva Jun 28, 2009 Oct 12, 2005
Total Loans $10,725,075 $686,473,350
Amount of raised Inactive loans $1,175 $721,750
Number of raised Inactive loans 1 486
Amount of Paying Back Loans $768,000 $129,314,375
Number of Paying Back Loans 615 143,658
Amount of Ended Loans $9,955,900 $556,437,225
Number of Ended Loans 7,584 694,294
Delinquency Rate 0.18% 6.35%
Amount in Arrears $803 $5,320,425
Outstanding Portfolio $442,268 $83,802,985
Number of Loans Delinquent 1 16,727
Default Rate 0.11% 1.10%
Amount of Ended Loans Defaulted $10,772 $6,122,435
Amount of Ended Loans $9,955,900 $556,437,225
Number of Ended Loans Defaulted 15 18,804
Currency Exchange Loss Rate 0.00% 0.21%
Amount of Currency Exchange Loss $0 $1,443,368
Refund Rate 0.03% 0.69%
Amount of Refunded Loans $2,875 $4,738,225
Number of Refunded Loans 5 5,263

Loan Characteristics On Kiva

    This Field Partner All Kiva Partners
  Loans to Women Borrowers 96.63% 74.26%
Average Loan Size $593 $416
Average Individual Loan Size $911 $655
Average Group Loan Size $3,992 $1,838
Average number of borrowers per group 10.4 8
Average GDP per capita (PPP) in local country $10,200 $3,378
Average Loan Size / GDP per capita (PPP) 5.81% 12.32%
Average Time to Fund a Loan 4.02 days 6.11 days
Average Dollars Raised Per Day Per Loan $147.60 $68.09
  Average Loan Term 4.46 months 10.68 months

Journaling Performance on Kiva

    This Field Partner All Kiva Partners
  Total Journals 4,571 338,579
  Journaling Rate 54.76% 41.56%
  Average Number of Comments Per Journal 0.04 0.07
  Average Number of Recommendations Per Journal 0.21 1.64

Borrowing Cost Comparison (based on 2013 data)

    This Field Partner Median for MFI's in Country All Kiva Partners
  Average Cost to Borrower 22% PY 20.00% PY 32.11% PY
  Profitability (return on assets) 1.6% 1.8% -1.96%
  Average Loan Size (% of per capita income) 14.00% 49.00% 19.61%

Country Fast Facts

Field Partner Staff

Ivonne Balseca
Rocio Cruz
Leonard Della-Moretta
Monica Espinosa
Jessenia Freire
Carlos Macias
Claudia Moreno
Eduardo Muñoz
Pedro Salvatierra
Mónica Triviño