Mikrofond EAD
Approved to post Kiva loans from: 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.
Repayment Performance on Kiva
| This Lending Partner | All Kiva Partners | ||
| Start Date On Kiva | Oct 26, 2006 | Oct 12, 2005 | |
|---|---|---|---|
| Total Loans | $337,600 | $1,959,307,040 | |
| Amount of raised Inactive loans | $0 | $222,235 | |
| Number of raised Inactive loans | 0 | 190 | |
| Amount of Paying Back Loans | $0 | $161,570,650 | |
| Number of Paying Back Loans | 0 | 189,208 | |
| Amount of Ended Loans | $337,600 | $1,768,476,020 | |
| Number of Ended Loans | 258 | 2,370,357 | |
| Delinquency Rate | 0.00% | 12.09% | |
| Amount in Arrears | $0 | $12,154,807 | |
| Outstanding Portfolio | $0 | $100,506,286 | |
| Number of Loans Delinquent | 0 | 72,423 | |
| Default Rate | 0.00% | 1.83% | |
| Amount of Ended Loans Defaulted | $0 | $32,355,409 | |
| Number of Ended Loans Defaulted | 0 | 84,925 | |
| Currency Exchange Loss Rate | 0.00% | 0.50% | |
| Amount of Currency Exchange Loss | $0 | $12,005,888 | |
| Refund Rate | 0.00% | 0.54% | |
| Amount of Refunded Loans | $0 | $10,526,300 | |
| Number of Refunded Loans | 0 | 9,596 |
Loan Characteristics On Kiva
| This Lending Partner | All Kiva Partners | ||
| Loans to Women Borrowers | 39.53% | 78.24% | |
|---|---|---|---|
| Average Loan Size | $1,309 | $392 | |
| Average Individual Loan Size | $1,309 | $589 | |
| Average Group Loan Size | $0 | $1,892 | |
| Average number of borrowers per group | 0 | 8.3 | |
| Average GDP per capita (PPP) in local country | $14,400 | $5,600 | |
| Average Loan Size / GDP per capita (PPP) | 9.09% | 7.00% | |
| Average Time to Fund a Loan | 7.43 days | 8.93 days | |
| Average Dollars Raised Per Day Per Loan | $176.20 | $43.86 | |
| Average Loan Term | 13.31 months | 11.47 months |
Journaling Performance on Kiva
| This Lending Partner | All Kiva Partners | ||
| Total Journals | 0 | 1,178,731 | |
|---|---|---|---|
| Journaling Rate | 0.00% | 42.24% | |
| Average Number of Comments Per Journal | 0.00 | 0.02 | |
| Average Number of Recommendations Per Journal | 0.00 | 0.57 |
Borrowing Cost Comparison (based on 2009 data)
| This Lending Partner | Median for MFI's in Country | All Kiva Partners | ||
| Average Cost to Borrower | N/A | 20.00% PY | 27.02% PY | |
|---|---|---|---|---|
| Profitability (return on assets) | N/A | 2.4% | -3.10% | |
| Average Loan Size (% of per capita income) | N/A | 71.00% | 0.00% |
Country Fast Facts
- Country:
- Bulgaria
- Capital:
- Sofia
- Official Language:
- Bulgarian
- Population:
- 6,924,716
- Avg Annual Income:
- $14,400
- Labor Force:
- agriculture: 7.1%, industry: 35.2%, services: 57.7%
- Population Below Poverty Line:
- 21.80%
- Literacy Rate:
- 98.40%
- Infant Mortality Rate (per 1000):
- 15.08 deaths
- Life Expectancy:
- 74.33 years