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: Mikrofond EAD can be contacted via email at

Kiva HelpRepayment Performance on Kiva

    This Field Partner All Kiva Partners
  Start Date On Kiva Oct 26, 2006 Oct 12, 2005
Total Loans $337,600 $540,185,700
Amount of Raised Inactive Loans $0 $365,925
Number Of Raised Inactive Loans 0 252
Amount of Paying Back Loans $0 $111,883,875
Number Of Paying Back Loans 0 115,751
Amount of Ended Loans $337,600 $427,935,900
Number Of Ended Loans 258 549,722
Delinquency Rate 0.00% 3.26%
Amount In Arrears $0 $2,377,834
Outstanding Portfolio $0 $72,977,849
Number of Loans Delinquent 0 10,580
Default Rate 0.00% 1.01%
Amount of Ended Loans Defaulted $0 $4,332,252
Amount of Ended Loans $337,600 $427,935,900
Number Of Ended Loans Defaulted 0 14,039
Currency Exchange Loss Rate 0.00% 0.06%
Amount of Currency Exchange Loss $0 $298,028
Refund Rate 0.00% 0.82%
Amount of Refunded Loans $0 $4,417,000
Number Of Refunded Loans 0 4,864

Kiva HelpLoan Characteristics On Kiva

    This Field Partner All Kiva Partners
  Loans To Women Entrepreneurs 39.53% 74.10%
Average Loan Size $1,309 $417
Average Individual Loan Size $1,309 $656
Average Group Loan Size $0 $1,814
Average Number Of Entrepreneurs Per Group 0 8
Average GDP Per Capita (PPP) in Local Country $10,844 $3,462
Average Loan Size / GDP Per Capita (PPP) 12.07% 12.06%
Average Time To Fund A Loan 7.43 days 5.29 days
Average Dollars Raised Per Day Per Loan $176.20 $78.89
  Average Loan Term 13.31 months 10.05 months

Kiva HelpJournaling Performance on Kiva

    This Field Partner All Kiva Partners
  Total Journals 0 269,088
  Journaling Rate 0.00% 42.08%
  Average Number Of Comments Per Journal 0.00 0.09
  Average Number Of Recommendations Per Journal 0.00 2.06

Kiva HelpBorrowing Cost Comparison (based on 2008 data)

    This Field Partner Median for MFI Peers in Country All Kiva Partners
  Portfolio Yield 22.70% N/A 34.93%
  Profitability (Return on Assets) 0.33% N/A -1.11%
  Average Loan Size (% of Per Capita Income) N/A 62.84% 42.70%

Kiva HelpCountry Fast Facts

Field Partner Staff

Georgi Breskovski
Albena Marinova