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.

Kiva HelpRepayment Performance on Kiva

    This Field Partner All Kiva Partners
  Start Date On Kiva Nov 29, 2012 Oct 12, 2005
Total Loans $258,025 $539,779,750
Amount of Raised Inactive Loans $0 $395,825
Number Of Raised Inactive Loans 0 277
Amount of Paying Back Loans $234,150 $111,481,150
Number Of Paying Back Loans 217 115,292
Amount of Ended Loans $23,875 $427,902,775
Number Of Ended Loans 41 549,684
Delinquency Rate 1.05% 3.29%
Amount In Arrears $1,805 $2,384,778
Outstanding Portfolio $172,604 $72,582,749
Number of Loans Delinquent 12 10,606
Default Rate 0.00% 1.01%
Amount of Ended Loans Defaulted $0 $4,334,868
Amount of Ended Loans $23,875 $427,902,775
Number Of Ended Loans Defaulted 0 14,050
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 55.73% 74.09%
Average Loan Size $1,000 $417
Average Individual Loan Size $1,000 $656
Average Group Loan Size $0 $1,813
Average Number Of Entrepreneurs Per Group 0 8
Average GDP Per Capita (PPP) in Local Country $2,817 $3,463
Average Loan Size / GDP Per Capita (PPP) 35.50% 12.05%
Average Time To Fund A Loan 6.17 days 5.29 days
Average Dollars Raised Per Day Per Loan $162.08 $78.90
  Average Loan Term 23.81 months 10.05 months

Kiva HelpJournaling Performance on Kiva

    This Field Partner All Kiva Partners
  Total Journals 0 268,948
  Journaling Rate 0.00% 42.09%
  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 2011 data)

    This Field Partner Median for MFI Peers in Country All Kiva Partners
  Portfolio Yield N/A N/A 34.93%
  Profitability (Return on Assets) N/A N/A -1.11%
  Average Loan Size (% of Per Capita Income) N/A 23.90% 42.70%

Kiva HelpCountry Fast Facts

Field Partner Staff

Kate Cochran
Celeste Gonda
Megan Halbrook
Jerry Hynes
Brad Mahaffey
Sanjaya Punyasena
Nikki SanchezComeau
Porter Searcy