What to know about this Lending Partner
Kiva conducts regular, ongoing monitoring of all Lending Partners, but only posts status updates here in response to relevant, major changes at the partner.
Status Update - December 18, 2014
Kiva and Banco D-MIRO have agreed to end their partnership after more than 5 years and more than $3,600,000 in loans raised. This Lending Partner has repaid its outstanding balance to Kiva in full, and these funds have been distributed to lenders. We thank Banco D-MIRO for the years of collaboration and wish them success in their future endeavors.
Partner Description:
Banco D-MIRO was founded in 1997 when Mission Alliance created it as a microfinance program to promote the development of the most vulnerable sectors of Ecuador’s economy. It officially became a bank in 2011, opening 14 offices in five provinces and providing 35,000 local borrowers with financial services.
The organization targets marginalized families and micro-entrepreneurs who have been excluded from the traditional financial system for reasons including culture, gender, race, poverty, disability and illness.
D-MIRO’s financial offerings include a variety of special microcredit products, including loans for housing, education, and medical treatment. It even provides subsidized loans for the disabled and HIV-positive borrowers, students and young entrepreneurs who are considered too risky by other institutions.
In addition to credit, D-MIRO provides all of its clients and their dependents with free health and life insurance.
Image courtesy of Banco D-MIRO.