Last updated March 20, 2013

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 $9,021,275 $575,063,750
Amount of raised Inactive loans $0 $304,725
Number of raised Inactive loans 0 278
Amount of Paying Back Loans $872,150 $119,196,175
Number of Paying Back Loans 477 125,162
Amount of Ended Loans $8,149,125 $455,562,850
Number of Ended Loans 6,459 580,593
Delinquency Rate 0.07% 3.45%
Amount in Arrears $352 $2,701,152
Outstanding Portfolio $516,873 $78,368,672
Number of loanDelinquent 1 11,379
Default Rate 0.13% 1.08%
Amount of Ended Loans Defaulted $10,772 $4,937,756
Amount of Ended Loans $8,149,125 $455,562,850
Number of Ended Loans Defaulted 15 15,266
Currency Exchange Loss Rate 0.00% 0.07%
Amount of Currency Exchange Loss $0 $406,266
Refund Rate 0.03% 0.78%
Amount of Refunded Loans $2,875 $4,479,350
Number of Refunded Loans 5 5,008

Loan Characteristics On Kiva

    This Field Partner All Kiva Partners
  Loans to Women Borrowers 97.26% 74.23%
Average Loan Size $560 $419
Average Individual Loan Size $869 $657
Average Group Loan Size $3,911 $1,824
Average number of borrowers per group 10.3 8
Average GDP per capita (PPP) in local country $10,200 $3,440
Average Loan Size / GDP per capita (PPP) 5.49% 12.17%
Average Time to Fund a Loan 4.45 days 5.51 days
Average Dollars Raised Per Day Per Loan $125.75 $75.90
  Average Loan Term 4.26 months 10.24 months

Journaling Performance on Kiva

    This Field Partner All Kiva Partners
  Total Journals 3,986 286,267
  Journaling Rate 57.91% 42.42%
  Average Number of Comments Per Journal 0.05 0.08
  Average Number of Recommendations Per Journal 0.24 1.94

Borrowing Cost Comparison (based on 2012 data)

    This Field Partner Median for MFI's in Country All Kiva Partners
  Portfolio Yield 31.00% 20.00% 33.54%
  Profitability (return on assets) 2% 1.8% -1.15%
  Average Loan Size (% of per capita income) 14.00% 49.00% 41.59%

Country Fast Facts

Field Partner Staff

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