Kiva conducts regular, ongoing monitoring of all Field Partners, but only posts status updates here in response to relevant, major changes at the partner.
Status Update - March 10, 2015
Kiva is extending the existing grace period for Field Partners impacted by the Ebola outbreak until the end of May 2015. This will allow the partners time to carry out comprehensive audits of their operations, and to share information with Kiva on outstanding loans and their plans going forward.
BRAC Sierra Leone operates in one of the countries in West Africa that was most affected by the Ebola outbreak. As a result, BRAC Sierra Leone has been closed since September of last year, but the organization plans to resume microfinance activities in March 2015. As BRAC starts recovering loan payments they will update Kiva on the status of all outstanding loans. The organization hopes to resume posting new loans to Kiva in April. 

Status Update - October 23, 2014

BRAC Sierra Leone operates in Sierra Leone, one of the countries in West Africa currently experiencing an Ebola outbreak. This epidemic is the largest in history, claiming thousands of lives and having a deep impact on the national economy. BRAC Sierra Leone has temporarily stopped funding on Kiva as they respond to this crisis. Learn more about the epidemic here.
Kiva has allowed BRAC Sierra Leone a 4-month grace period for repayments until the end of 2014, at which time we will reevaluate the situation. The Kiva team is in regular communication with BRAC Sierra Leone and will provide an update when they resume funding on Kiva.

BRAC Sierra Leone Field Partner Page 

BRAC was founded in Bangladesh in 1972 as a small-scale relief project to help the country overcome the devastation of the liberation war and aid in the resettlement of refugees returning from India. BRAC has subsequently acted as a pioneer and catalyst for change, taking a holistic development approach to attacking poverty and empowering people in over 9 countries around the world.

BRAC achieves rapid change through a ground-up approach that focuses on building scale and recognizing both the social and economic needs of its client base. BRAC started working in Sierra Leone in 2008, and began providing microfinance services in June 2009. BRAC Sierra Leone also offers extensive training and capacity building programs in the areas of health, poultry and livestock, agriculture, human rights and legal services. It operates more than 43 branches in all four regions of Sierra Leone, and by the end of 2009, BRAC’s services reached over a quarter of a million Sierra Leoneans.

In Sierra Leone, women are especially affected by poverty, and BRAC has found that empowering women can bring about positive changes in their families and communities. Thus, over 99% of BRAC’s loan recipients in Sierra Leone are women.

One of BRAC Sierra Leone’s microfinance programs, the small enterprise loan, targets both male and female entrepreneurs who seek to expand small businesses and have limited access to capital. These small business entrepreneurs would otherwise have very limited access to the formal financial system, as they are too large for microloans but insufficient collateral for commercial banks. The ultimate goal of the small enterprise loan is to generate employment opportunities.

BRAC’s Vision
Our vision is of a just, enlightened, healthy and democratic world free from hunger, poverty, environmental degradation and all forms of exploitation based on age, sex, and ethnicity.

BRAC’s Mission
To work with people whose lives are dominated by extreme poverty, illiteracy, disease, and other disadvantages. With a holistic approach, we strive to bring about positive changes in the quality of life of people who are poor.

BRAC achieves its mission by:

     • Working with the poor, especially women and children;
     • Engaging in multifaceted development interventions;
     • Striving  the promote positive changes in quality of life;
     • Working towards attaining socially, financially, and environmentally sustainable programs;
     • Actively promoting human rights, human dignity, and gender equity;
     • Helping to shape national and global policies on poverty reduction and social progress;
     • Fostering the development of human potential;
     • Offering professional development opportunities to our staff;
     • Encouraging commitment to the goals and values of our organization

  A Note About BRAC Sierra Leone's Portfolio Yield:

We care deeply about the cost that Kiva borrowers pay for their loans, which is why fair pricing is a core part of our initial due diligence process for Field Partners. With Kiva's 0% capital, many of our Field Partners are also able to add additional value to their loans by reducing interest rates, offering non-financial services or creating new loan products.
For partners with reported portfolio yields or average APRs higher than 50%, Kiva takes steps to check that the high rates are justified by the impact of the loans. Kiva also verifies that the partner is not generating unreasonable profits or paying inflated salaries, and that the partner’s elevated operating costs are justified by its operating environment and/or the design of its loan products.
We seek to support loans that don’t impose an unjustifiable cost burden on hardworking borrowers. We nevertheless recognize that in order to reach vulnerable and excluded people with high-impact products and services, some of our partners incur high costs that necessitate charging higher-than-average costs to borrowers in order to allow for sustainability and scale.
Factors that drive up the costs that this partner organization charges its borrowers include:

     • They operate in a market with high inflation—averaging 13% from 2011-2013, which means that the rates you see on Kiva are overstated, since loans are given in local currency, which lost value much more quickly than the U.S. dollar.
     • They provide very small loans. This leads to higher operating costs, since providing each individual loan presents a minimum per-unit cost.
     • They provide very short term loans, which leads to higher operating costs, since each short-term loan generates a smaller amount of revenue than a longer-term loan.
     • They provide more than just cash to many of their borrowers, including costly wraparound services such as healthcare, financial or business training, agricultural extension services, insurance or access to education.
     • They work in areas with very poor infrastructure, such as limited roads. This increases the costs of finding clients and maintaining branch offices.
     • They operate in an area with a limited or poorly functioning banking system. This makes it difficult to access funding locally, and makes it more challenging to send and receive payments on loans from outside the country.
     • They’re based in an area with a high cost of living and doing business. This is often due to the high demand and low supply of adequate housing and goods.
     • They work extensively in rural areas, which requires their employees to engage in costly travel to find and serve their clients.
     • They operate in a market where microfinance is highly underdeveloped. This means that finding, training and maintaining qualified staff is more expensive and difficult than in more-developed markets.

Repayment Performance on Kiva

    This Field Partner All Kiva Partners
  Start Date On Kiva Mar 24, 2011 Oct 12, 2005
Total Loans $1,383,775 $664,682,375
Amount of raised Inactive loans $0 $366,075
Number of raised Inactive loans 0 244
Amount of Paying Back Loans $544,150 $128,336,875
Number of Paying Back Loans 1,286 141,459
Amount of Ended Loans $839,625 $535,979,425
Number of Ended Loans 2,388 670,588
Delinquency Rate 74.01% 5.40%
Amount in Arrears $214,275 $4,490,275
Outstanding Portfolio $289,531 $83,178,563
Number of Loans Delinquent 1,286 16,038
Default Rate 1.01% 1.11%
Amount of Ended Loans Defaulted $8,475 $5,955,048
Amount of Ended Loans $839,625 $535,979,425
Number of Ended Loans Defaulted 15 17,854
Currency Exchange Loss Rate 0.00% 0.17%
Amount of Currency Exchange Loss $0 $1,106,295
Refund Rate 0.01% 0.71%
Amount of Refunded Loans $200 $4,686,425
Number of Refunded Loans 1 5,208

Loan Characteristics On Kiva

    This Field Partner All Kiva Partners
  Loans to Women Borrowers 90.72% 74.22%
Average Loan Size $377 $417
Average Individual Loan Size $377 $655
Average Group Loan Size $0 $1,841
Average number of borrowers per group 0 8
Average GDP per capita (PPP) in local country $903 $3,389
Average Loan Size / GDP per capita (PPP) 41.70% 12.31%
Average Time to Fund a Loan 3.75 days 6.05 days
Average Dollars Raised Per Day Per Loan $100.48 $68.99
  Average Loan Term 8.54 months 10.62 months

Journaling Performance on Kiva

    This Field Partner All Kiva Partners
  Total Journals 281 328,624
  Journaling Rate 8.19% 41.77%
  Average Number of Comments Per Journal 0.01 0.07
  Average Number of Recommendations Per Journal 0.00 1.69

Borrowing Cost Comparison (based on 2013 data)

    This Field Partner Median for MFI's in Country All Kiva Partners
  Average Cost to Borrower 48% PY 47.00% PY 33.02% PY
  Profitability (return on assets) -15.9% -9.5% -0.68%
  Average Loan Size (% of per capita income) 35.30% 28.00% 36.66%

Country Fast Facts

Field Partner Staff

Mohamed Shah Alam
Amjad Ali
Eyashin Chowdhury
Ryan Cummings
Jibon Das
Saiful Islam
Mohamed Amada Jalloh
Tapan Karmaker
Zaiul Sumon
Mbalu Turay