Update 7/9/2015

On June 18, 2015, Caja Rural Señor de Luren was taken over by the SBS, the Peruvian regulator, as the institution's portfolio quality was deteriorating. Caja Rural Señor de Luren's customer deposits were transferred over to CMAC Arequipa, one of the largest microfinance institutions in Peru and the SBS is currently proceeding to liquidate the rest of Caja Rural Señor de Luren. As a result, Kiva has chosen to pause this partner. Kiva is actively monitoring the situation and is in contact with the regulator with the goal of recovering funds still owed to Kiva lenders and will share additional information with lenders as it becomes available. 


Kiva conducts regular, ongoing monitoring of all Field Partners, but only posts status updates here in response to relevant, 
major changes at the partner.

Caja Rural Señor de Luren is a microfinance institution based in Ica in southern Peru that primarily promotes the development of the country’s agricultural sector through micro-lending. Founded in 1994, the organization diversified to offer microenterprise, consumer and home loans in 2003. By September 2011, it grew to serve over 55,000 borrowers through 41 offices with a loan portfolio of approximately US$184 million.

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Today, Caja Luren provides three major financial products to its clients:




In 2007, an earthquake devastated the Ica area and weakened the local economy. Caja Luren played an instrumental role in helping residents rebuild their lives, homes and businesses. Immediately following the earthquake, the institution offered 6 month grace periods to a large portion of its affected portfolio in order to aid recovery.

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To reduce its operating expenses, Caja Luren partnered with Peru’s National Bank to share its offices and certain resources. This helped expand micro-credit access to some of the poorest and most remote regions of Peru. Today, this partnership has grown to the point where more than half of Caja Luren’s offices work with the National Bank in some capacity.

Caja Luren is a regulated financial institution and reports on a monthly basis to the Peruvian Superintendent of Banks. It adheres to official standards of financial reporting and is audited annually. It has also developed risk managament and internal audit departments to make sure that credit is going to deserving borrowers and being used effectively.

The institution uses Kiva lenders’ funding to expand its operations to support new clients. Many of these people are still recovering from the earthquake nearly six years later. The focus is to provide capital that encourages business growth and housing repair in rural areas around Ica.

Images courtesy of Caja Luren.

Repayment Performance on Kiva

    This Field Partner All Kiva Partners
  Start Date On Kiva Oct 22, 2009 Oct 12, 2005
Total Loans $3,570,375 $733,612,525
Amount of raised Inactive loans $0 $314,500
Number of raised Inactive loans 0 278
Amount of Paying Back Loans $420,450 $134,839,775
Number of Paying Back Loans 713 156,327
Amount of Ended Loans $3,149,925 $598,458,250
Number of Ended Loans 5,205 741,369
Delinquency Rate 81.41% 8.85%
Amount in Arrears $155,968 $7,839,614
Outstanding Portfolio $191,582 $88,595,678
Number of Loans Delinquent 703 30,281
Default Rate 7.66% 1.26%
Amount of Ended Loans Defaulted $241,154 $7,560,355
Amount of Ended Loans $3,149,925 $598,458,250
Number of Ended Loans Defaulted 626 20,828
Currency Exchange Loss Rate 0.12% 0.29%
Amount of Currency Exchange Loss $4,444 $2,153,504
Refund Rate 0.77% 0.67%
Amount of Refunded Loans $27,350 $4,933,875
Number of Refunded Loans 47 5,441

Loan Characteristics On Kiva

    This Field Partner All Kiva Partners
  Loans to Women Borrowers 48.48% 74.49%
Average Loan Size $603 $416
Average Individual Loan Size $603 $651
Average Group Loan Size $450 $1,849
Average number of borrowers per group 2 8
Average GDP per capita (PPP) in local country $12,000 $5,942
Average Loan Size / GDP per capita (PPP) 5.02% 7.00%
Average Time to Fund a Loan 10.46 days 6.48 days
Average Dollars Raised Per Day Per Loan $57.62 $64.16
  Average Loan Term 11.23 months 10.8 months

Journaling Performance on Kiva

    This Field Partner All Kiva Partners
  Total Journals 3,076 363,103
  Journaling Rate 49.93% 41.50%
  Average Number of Comments Per Journal 0.00 0.06
  Average Number of Recommendations Per Journal 0.01 1.53

Borrowing Cost Comparison (based on 2013 data)

    This Field Partner Median for MFI's in Country All Kiva Partners
  Average Cost to Borrower 20% PY 29.00% PY 31.60% PY
  Profitability (return on assets) N/A 1.4% -0.52%
  Average Loan Size (% of per capita income) 83.40% 42.00% 19.33%

Country Fast Facts

Field Partner Staff

Guibell Carlevaro
Karla Carlos Angulo
Bárbara Fernandez
Ines Roxana Paucar Soto