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

Partner Description:

Fondo de Desarrollo Microempresarial (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 FODEMI 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:

FODEMI 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.

FODEMI’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 $1,616,800 $643,637,600
Amount of raised Inactive loans $0 $905,700
Number of raised Inactive loans 0 796
Amount of Paying Back Loans $1,103,500 $125,634,350
Number of Paying Back Loans 818 138,485
Amount of Ended Loans $513,300 $517,097,550
Number of Ended Loans 612 648,022
Delinquency Rate 0.01% 4.74%
Amount in Arrears $53 $3,905,667
Outstanding Portfolio $715,606 $82,314,404
Number of loanDelinquent 1 15,674
Default Rate 0.00% 1.10%
Amount of Ended Loans Defaulted $0 $5,693,092
Amount of Ended Loans $513,300 $517,097,550
Number of Ended Loans Defaulted 0 17,486
Currency Exchange Loss Rate 0.00% 0.12%
Amount of Currency Exchange Loss $0 $783,507
Refund Rate 0.36% 0.72%
Amount of Refunded Loans $5,900 $4,605,450
Number of Refunded Loans 7 5,145

Loan Characteristics On Kiva

    This Field Partner All Kiva Partners
  Loans to Women Borrowers 69.29% 74.17%
Average Loan Size $670 $418
Average Individual Loan Size $762 $655
Average Group Loan Size $3,645 $1,840
Average number of borrowers per group 6.4 8
Average GDP per capita (PPP) in local country $10,200 $3,405
Average Loan Size / GDP per capita (PPP) 6.57% 12.26%
Average Time to Fund a Loan 5.21 days 5.96 days
Average Dollars Raised Per Day Per Loan $128.55 $70.06
  Average Loan Term 12.88 months 10.58 months

Journaling Performance on Kiva

    This Field Partner All Kiva Partners
  Total Journals 63 320,234
  Journaling Rate 9.69% 42.09%
  Average Number of Comments Per Journal 0.02 0.07
  Average Number of Recommendations Per Journal 0.00 1.73

Borrowing Cost Comparison (based on 2012 data)

    This Field Partner Median for MFI's in Country All Kiva Partners
  Average Cost to Borrower 24% PY 20.00% PY 33.35% PY
  Profitability (return on assets) 4.3% 1.8% -1.49%
  Average Loan Size (% of per capita income) 13.40% 49.00% 38.01%

Country Fast Facts

Field Partner Staff

Vladimir Batioja
Lorena Burgos
Robinson Cedenio
Jorge Malte
Francia Cesibel Navarrete Díaz
Sonia Maritza Pozo
Luis Fernando Rios Ramos
Rosa de las Mercedes Roldán Robles
Oscar Ruiz
Mayra Cristina Vásquez Rosales