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

Update: April 1, 2015


As of 2015, Kiva Field Partner Fondo de Desarrollo Microempresarial (FODEMI), a partner of WorldVision International, formally changed its name to VisionFund Ecuador, to better align itself with other VisionFund International microfinance organizations and to reflect its transition to a more rigorously regulated microfinance institution in Ecuador.

Partner Description:

VisionFund Ecuador, formerly FODEMI, is a microenterprise development fund that supports groups of entrepreneurs who have no access to formal financial systems. The organization works with vulnerable populations, especially women, in the marginalized urban and rural sectors of Ecuador. Its clients work in a variety of sectors including agriculture, artisan crafts and the commercial and service sectors.

Founded in 1995, the organization helps poor people in rural areas to start or expand their businesses by offering microloans and a wide range of training and business services. Those who apply for a loan through VisionFund Ecuador receive supervision and guaranteed support from a team of technicians in charge of ensuring safe utilization of funds, as well as training in ‘soft’ skills to help them succeed in their businesses.

To date, the organization has helped more than 300 clients in Ecuador to establish or improve their businesses. Kiva lenders’ funds are used to expand the organization’s services to the poor living in more rural parts of Ecuador.

A unique lending approach:

VisionFund Ecuador offers short term loans to micro-enterprise owners who require funding to develop their businesses. The guarantees and the requirements are minimal because the organization is targeting poor people in rural areas. According to the organization, the most important requirement is clients’ solidarity and moral responsibility.



VisionFund Ecuador's financial services include community banking, individual credit and solidarity group loans. Community banking loans are designed to help people with common goals access finance without substantial collateral. In contrast, individual credit is offered to micro or small business owners who have the capacity to pay, are financially solvent and meet all of the credit requirements. Group loans are designed to give access to credit without personal guarantees through the formation of a group whose members mutually guarantee each other’s commitment.


Repayment Performance on Kiva

    This Field Partner All Kiva Partners
  Start Date On Kiva Apr 28, 2011 Oct 12, 2005
Total Loans $2,098,600 $720,705,200
Amount of raised Inactive loans $0 $513,950
Number of raised Inactive loans 0 352
Amount of Paying Back Loans $1,136,600 $133,013,825
Number of Paying Back Loans 950 152,720
Amount of Ended Loans $962,000 $587,177,425
Number of Ended Loans 937 728,047
Delinquency Rate 1.53% 7.25%
Amount in Arrears $9,126 $6,246,136
Outstanding Portfolio $595,205 $86,144,297
Number of Loans Delinquent 19 20,682
Default Rate 0.00% 1.16%
Amount of Ended Loans Defaulted $0 $6,837,380
Amount of Ended Loans $962,000 $587,177,425
Number of Ended Loans Defaulted 0 19,782
Currency Exchange Loss Rate 0.00% 0.27%
Amount of Currency Exchange Loss $0 $1,945,073
Refund Rate 0.28% 0.68%
Amount of Refunded Loans $5,900 $4,898,125
Number of Refunded Loans 7 5,415

Loan Characteristics On Kiva

    This Field Partner All Kiva Partners
  Loans to Women Borrowers 69.40% 74.40%
Average Loan Size $697 $416
Average Individual Loan Size $776 $653
Average Group Loan Size $3,934 $1,849
Average number of borrowers per group 6.6 8
Average GDP per capita (PPP) in local country $10,600 $5,938
Average Loan Size / GDP per capita (PPP) 6.58% 7.01%
Average Time to Fund a Loan 5.47 days 6.37 days
Average Dollars Raised Per Day Per Loan $127.43 $65.31
  Average Loan Term 13.37 months 10.77 months

Journaling Performance on Kiva

    This Field Partner All Kiva Partners
  Total Journals 345 354,026
  Journaling Rate 34.75% 41.33%
  Average Number of Comments Per Journal 0.00 0.07
  Average Number of Recommendations Per Journal 0.00 1.57

Borrowing Cost Comparison (based on 2013 data)

    This Field Partner Median for MFI's in Country All Kiva Partners
  Average Cost to Borrower 23% PY 20.00% PY 31.97% PY
  Profitability (return on assets) 0.9% 1.8% -1.93%
  Average Loan Size (% of per capita income) 13.40% 49.00% 19.57%

Country Fast Facts

Field Partner Staff

Leidy Bastidas
Lorena Burgos
Robinson Cedenio
Magdalena Jingo
Jorge Malte
Francia Cesibel Navarrete Díaz
Jeniffer Pintado
Sonia Maritza Pozo
Luis Fernando Rios Ramos