Mikrofond EAD
Bulgaria
Status update - March 29, 2010:
Mikrofond EAD has made the decision to terminate its partnership with Kiva. Mikrofond has many sources of lending capital and no longer needs to work with Kiva. Mikrofond's decision to terminate its partnership with Kiva should be seen as positive in every way.Mikrofond's mission is to support entrepreneurs in Bulgaria by providing alternative sources of financing for start-ups and small and medium businesses which do not have access to the bank system sources of capital.
Their aim is to create the first sustainable microfinancing non-banking institution in Bulgaria, because they believe that small business entrepreneurs are the engine of the economic development and have the greatest growth potential.
Their clients are all economically active people who cannot access funding for their business projects from the existing banks and other financing institutions.
For more information, please visit their website at:
http://www.micro.ngorc.net/en/ Mikrofond EAD can be contacted via email at breskovski@ngorc.net
Repayment Performance on Kiva
Repayment Performance on Kiva| This Field Partner | All Kiva Partners | ||
| Start Date On Kiva | Oct 26, 2006 | Oct 12, 2005 | |
|---|---|---|---|
| Total Loans | $337,600 | $426,910,600 | |
| Amount of Raised Inactive Loans | $0 | $238,825 | |
| Number Of Raised Inactive Loans | 0 | 207 | |
| Amount of Paying Back Loans | $0 | $94,248,000 | |
| Number Of Paying Back Loans | 0 | 101,761 | |
| Amount of Ended Loans | $337,600 | $332,423,775 | |
| Number Of Ended Loans | 258 | 435,945 | |
| Delinquency Rate | 0.00% | 1.89% | |
| Amount In Arrears | $0 | $1,148,081 | |
| Outstanding Portfolio | $0 | $60,666,465 | |
| Number of Loans Delinquent | 0 | 8,937 | |
| Default Rate | 0.00% | 0.97% | |
| Amount of Ended Loans Defaulted | $0 | $3,220,059 | |
| Amount of Ended Loans | $337,600 | $332,423,775 | |
| Number Of Ended Loans Defaulted | 0 | 9,823 | |
| Currency Exchange Loss Rate | 0.00% | 0.02% | |
| Amount of Currency Exchange Loss | $0 | $77,435 | |
| Refund Rate | 0.00% | 0.95% | |
| Amount of Refunded Loans | $0 | $4,068,925 | |
| Number Of Refunded Loans | 0 | 4,589 |
Loan Characteristics On Kiva
Loan Characteristics On Kiva| This Field Partner | All Kiva Partners | ||
| Loans To Women Entrepreneurs | 39.53% | 74.04% | |
|---|---|---|---|
| Average Loan Size | $1,309 | $407 | |
| Average Individual Loan Size | $1,309 | $646 | |
| Average Group Loan Size | $0 | $1,744 | |
| Average Number Of Entrepreneurs Per Group | 0 | 8 | |
| Average GDP Per Capita (PPP) in Local Country | $10,844 | $3,346 | |
| Average Loan Size / GDP Per Capita (PPP) | 12.07% | 12.17% | |
| Average Time To Fund A Loan | 7.43 days | 4.68 days | |
| Average Dollars Raised Per Day Per Loan | $176.20 | $87.00 | |
| Average Loan Term | 13.31 months | 9.61 months |
Journaling Performance on Kiva
Journaling Performance on Kiva| This Field Partner | All Kiva Partners | ||
| Total Journals | 0 | 203,892 | |
|---|---|---|---|
| Journaling Rate | 0.00% | 39.99% | |
| Average Number Of Comments Per Journal | 0.00 | 0.11 | |
| Average Number Of Recommendations Per Journal | 0.00 | 2.72 |
Borrowing Cost Comparison (based on 2008 data)
Borrowing Cost Comparison (based on 2008 data)| This Field Partner | Median for MFI Peers in Country | All Kiva Partners | ||
| Portfolio Yield | 22.70% | N/A | 35.13% | |
|---|---|---|---|---|
| Profitability (Return on Assets) | 0.33% | N/A | -0.15% | |
| Average Loan Size (% of Per Capita Income) | N/A | 62.84% | 47.07% |
Country Fast Facts
Country Fast Facts- Country:
- Bulgaria
- Capital:
- Sofia
- Official Language:
- The official language is Bulgarian, and nearly all inhabitants speak it. About half of the Turkish population speaks Turkish as its mother tongue. Bulgarian is a Slavic language that uses an alphabet first developed in the ninth century by Cyril and Methodise. English is now the most popular language for children to study, followed by German and French.
- Population:
- 7,450,349
- Avg Annual Income:
- $10,844
- Labor Force:
- agriculture 11%, industry 32.7%, services 56.3%
- Population Below Poverty Line:
- 13.4%
- Literacy Rate:
- 98.60
- Infant Mortality Rate (per 1000):
- 20.55 deaths
- Life Expectancy:
- 72.03 years
Field Partner Staff
Georgi BreskovskiAlbena Marinova