Last updated October 13, 2012

Partner Description:

Vittana is a nonprofit that aims to provide access to education for millions of young people struggling to overcome poverty around the world. Since its launch in 2009, it has provided loans to more than 6,000 students in 12 countries. Vittana and its community are committed to graduating a generation beyond poverty.

Today, there are more than 100 million students worldwide who are unable to obtain training certificates or college degrees due to insufficient funds. With a Vittana loan, a girl selling tamales can become a 3rd grade teacher, an errand boy can become a dentist, a farm girl can become a biologist -- and they can all permanently break the cycle of poverty. On average, the impact is a three-fold increase in income. With a Vittana microloan, young people can go from living on $3 a day to $9 a day or more. Students pay back these loans after they graduate and find sustainable employment. So far, Vittana students have a 99.8% repayment rate.

Vittana pioneered a $750 student microloan in developing countries that combines the transformative power of education with microfinance’s massive reach. The organization provides expertise and hands-on training to microfinance institutions (MFIs) to design loan products that meet students’ needs in each region. Capital to fund Vittana loans comes from its crowdfunding website, investment funds and strategic partnerships. The organization then collects data about the students it supports to track impact, expand programs, continue innovating and demonstrate a market effect.

Vittana’s partnership with Kiva gives Kiva lenders even more opportunities to help students afford higher education or vocational training and reach their dreams.

Repayment Performance on Kiva

    This Field Partner All Kiva Partners
  Start Date On Kiva Nov 29, 2012 Oct 12, 2005
Total Loans $258,025 $585,893,100
Amount of raised Inactive loans $0 $592,425
Number of raised Inactive loans 0 547
Amount of Paying Back Loans $215,175 $119,310,950
Number of Paying Back Loans 194 125,987
Amount of Ended Loans $42,850 $465,989,725
Number of Ended Loans 64 592,709
Delinquency Rate 0.14% 3.42%
Amount in Arrears $178 $2,669,838
Outstanding Portfolio $126,478 $78,049,269
Number of loanDelinquent 4 10,462
Default Rate 0.00% 1.15%
Amount of Ended Loans Defaulted $0 $5,337,667
Amount of Ended Loans $42,850 $465,989,725
Number of Ended Loans Defaulted 0 16,806
Currency Exchange Loss Rate 0.00% 0.08%
Amount of Currency Exchange Loss $0 $480,684
Refund Rate 0.00% 0.77%
Amount of Refunded Loans $0 $4,494,250
Number of Refunded Loans 0 5,038

Loan Characteristics On Kiva

    This Field Partner All Kiva Partners
  Loans to Women Borrowers 55.73% 74.17%
Average Loan Size $1,000 $418
Average Individual Loan Size $1,000 $656
Average Group Loan Size $0 $1,827
Average number of borrowers per group 0 8
Average GDP per capita (PPP) in local country $2,817 $3,432
Average Loan Size / GDP per capita (PPP) 35.50% 12.19%
Average Time to Fund a Loan 6.17 days 5.58 days
Average Dollars Raised Per Day Per Loan $162.08 $75.06
  Average Loan Term 23.81 months 10.3 months

Journaling Performance on Kiva

    This Field Partner All Kiva Partners
  Total Journals 0 292,358
  Journaling Rate 0.00% 42.36%
  Average Number of Comments Per Journal 0.00 0.08
  Average Number of Recommendations Per Journal 0.00 1.90

Borrowing Cost Comparison (based on 2011 data)

    This Field Partner Median for MFI's in Country All Kiva Partners
  Average Cost to Borrower N/A N/A 33.64% PY
  Profitability (return on assets) N/A N/A -1.40%
  Average Loan Size (% of per capita income) N/A N/A 41.35%

Country Fast Facts

Field Partner Staff

Kate Cochran
Caitlin Johnston
Brad Mahaffey
Sanjaya Punyasena
Nikki SanchezComeau
Porter Searcy