April 30, 2014

As of October 2013, Kiva stopped providing funding to Credituyo.  Due to institutional liquidity problems, the organization has been unable to reimburse Kiva in full for repayments made by Kiva borrowers, and as such, Credituyo's loans at risk rate is currently showing as 99.60%.  Kiva is actively monitoring Credituyo's financial situation and is following up regularly in an effort to recover payments due to lenders. Kiva will provide additional information as it becomes available.



February 24, 2012 
 

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.  As a result of their findings, Credituyo's risk rating will now be displayed as 3 stars instead of 2.5 stars. 

 

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 Credituyo's risk rating with a higher level of granularity. As a result, Credituyo's risk rating will now be displayed as 2.5 stars instead of 2 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: http://www.kiva.org/updates/kiva/2011/09/07/kiva-risk-ratings-now-with-half-stars.html.

Credituyo has been informed of the change in the display of their rating on Kiva's website.

 

Partner Description

Credituyo is a microfinance institution that provides financial access and education to micro entrepreneurs and local families in Mexico with a social and commercial mission.

As of January 2012, Credituyo has seven branches in the cities of Monterrey, Apodaca, Guadalupe, Villa de Juarez, Nuevo Laredo, Piedras Negras and Ciudad Acuña and a total of 15 business units. Credituyo funds loans for micro businesses and housing through Kiva, and also plans to utilize Kiva to fund loans for other innovative projects, such as green and start-up business loans.

Credituyo was founded in the city of Monterrey, under Mexican law as Servicios Financieros de Desarrollo Comunitario, S.A. de C.V. SOFOM ENR in 2006. Credituyo’s objective is to offer best-in-class financial services to Mexican families that do not have access to formal banking services.

 

Mission

We provide financial services and education to drive social, economic, and environmental development in our communities.

 

Vision

We shall be the best financial services institution in the communities where we operate:

   As a result of our social awareness and responsibility

   Because we improve the quality of life of our clients

   Because our commitment to our employees' wellbeing and self-realization.

   Because of adequate and sustainable returns for our investors.

Credituyo has adapted and continues to adapt to the needs of an evolving microfinance market by providing loans for micro and small businesses, entrepreneurs, education, and home improvement. In addition, Credituyo offers optional micro life-insurance and micro property and damage insurance policies, and free financial education. The loans are made to individual small business owners and to solidarity groups of 6 to 15 women.
 

Note from Kiva: This partnership replaces Kiva’s earlier partnership with Fundación para la Vivienda Progresiva (FVP). In early 2010 Credituyo merged with FVP, a microfinance institution that was founded in 2002 to help improve the quality of life of the working poor in the northern border region of Mexico. At the time, FVP had been a Kiva partner for over four years and had funded $1.6M to 2,550 entrepreneurs through Kiva. FVP has since ceased to exist (as of December 2011).


Repayment Performance on Kiva

    This Field Partner All Kiva Partners
  Start Date On Kiva Oct 2, 2006 Oct 12, 2005
Total Loans $3,659,925 $574,164,250
Amount of raised Inactive loans $0 $328,775
Number of raised Inactive loans 0 321
Amount of Paying Back Loans $271,975 $118,298,925
Number of Paying Back Loans 348 124,025
Amount of Ended Loans $3,387,950 $455,536,550
Number of Ended Loans 4,583 580,527
Delinquency Rate 73.29% 3.49%
Amount in Arrears $109,705 $2,706,475
Outstanding Portfolio $149,686 $77,516,810
Number of loanDelinquent 348 11,420
Default Rate 1.01% 1.08%
Amount of Ended Loans Defaulted $34,304 $4,934,954
Amount of Ended Loans $3,387,950 $455,536,550
Number of Ended Loans Defaulted 146 15,257
Currency Exchange Loss Rate 0.00% 0.07%
Amount of Currency Exchange Loss $114 $406,266
Refund Rate 0.79% 0.78%
Amount of Refunded Loans $29,050 $4,479,350
Number of Refunded Loans 41 5,008

Loan Characteristics On Kiva

    This Field Partner All Kiva Partners
  Loans to Women Borrowers 53.27% 74.23%
Average Loan Size $602 $419
Average Individual Loan Size $631 $657
Average Group Loan Size $3,350 $1,824
Average number of borrowers per group 6.7 8
Average GDP per capita (PPP) in local country $11,249 $3,442
Average Loan Size / GDP per capita (PPP) 5.35% 12.16%
Average Time to Fund a Loan 4.51 days 5.51 days
Average Dollars Raised Per Day Per Loan $133.60 $75.96
  Average Loan Term 10.41 months 10.24 months

Journaling Performance on Kiva

    This Field Partner All Kiva Partners
  Total Journals 283 286,161
  Journaling Rate 5.51% 42.42%
  Average Number of Comments Per Journal 0.17 0.08
  Average Number of Recommendations Per Journal 13.54 1.94

Borrowing Cost Comparison (based on 2012 data)

    This Field Partner Median for MFI's in Country All Kiva Partners
  Portfolio Yield 76.00% 74.00% 33.61%
  Profitability (return on assets) -3.6% 1% -1.19%
  Average Loan Size (% of per capita income) 4.30% 4.00% 41.84%

Country Fast Facts

Field Partner Staff

Dulce Carolina Amador
Valentino Arredondo
Alfonso Caro-Silva
Janeth Karina Galvez Rodriguez
Fernando Garza
Andres Gonzalez
Karina Gonzalez
Selene González Moreno
Karina Yulia Hernández Sierra
Jorge Herrera
Manuel Isiquio
Rudy Rolando Larreal Montiel
Daniel Omar Leal
Claudia Martinez
Eduardo Martinez
Edna Martinez Garcia
Rosa Laura Mireles Daniel
Karely Yanett Montelongo Ruíz
Evelyn Montes
Marielena Ontiveros Mares
Jesus Ortega
María Del Refugio Peinado
Adriana Peña
Francisco Perales
Juanita Rodriguez
JUANITA RODRIGUEZ CARDONA
Roboam Rodríguez Reyna
Maricela Ruiz
Marlene Saldivar
Zaira Serrano
Sully Coral Solis Martinez
Gabriel Vázquez
Maria Cruz Zavala Garcia