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Partner Description:

IluMexico is a hybrid social enterprise that provides clean energy via solar-powered home systems in off-grid communities in Mexico.

Kiva loans enable low-income households to purchase these systems, saving them 10 to 15% of their total monthly income by displacing costlier sources of energy like diesel, kerosene and candles.

By lending to three-member borrower groups, IluMexico is able to reach far more borrowers who do not have the collateral or credit history to get a loan from a formal financial institution. The organization allows them to cross-guarantee each other to avoid delinquent payments and defaults.

IluMexico complements its solar products with development programs and more. Its home systems range from 10W with 2 LED lights and USB cell phone charging to 60W for television, radio and other appliances. This larger system can also be used to power computer centers and satellite internet for schools, solar water pumping, refrigeration for rural clinics and public lighting.

User-added image
The Prometheus home system with 10 W solar panel, 12 V battery, 2 LED bulbs and 4A charge controller. It comes with installation and a warranty.

While Mexico has a 97% elecrification rate, there are more than 3 million people -- 600,000 households -- living off the grid in communities too small to be connected. They are usually indigenous people living in rural areas who rely on polluting, hazardous and dim sources of energy. They are also IluMexico’s high-priority prospective customers.

With a monthly income between US$100 and $350, most of these households are located in communities with fewer than 500 people. By switching to solar, they can save a huge amount of money on energy costs, which can then be used to make monthly payments on loans for solar systems. There are many other benefits, including improved health and lower fire risk. Solar lights also extend productivity hours, including time children can study for school.

The Mexican government does not have a strategy for rural electrification in communities with fewer than 100 inhabitants due to their geographical and economic conditions. IluMexico has rallied support from state and municipal governments and has leveraged federal subsidies to make  solar home systems an efficient source of energy for these rural families.

Since its founding in 2009, Ilumexico has worked in 11 Mexican states, installed 1,700 home solar systems, and has lit 10 schools, 4 community centers and homes in over 100 communities.

IluMexico joined Kiva through our Experimental Partnership Program, and has therefore received a lighter level of due diligence. Accordingly, loans associated with this partner carry a higher level of risk than typical Kiva loans.

Images courtesy of IluMexico.

Repayment Performance on Kiva

    This Field Partner All Kiva Partners
  Start Date On Kiva Dec 20, 2012 Oct 12, 2005
Total Loans $46,200 $666,659,850
Amount of raised Inactive loans $0 $372,675
Number of raised Inactive loans 0 200
Amount of Paying Back Loans $21,675 $130,148,375
Number of Paying Back Loans 45 143,804
Amount of Ended Loans $24,525 $536,138,800
Number of Ended Loans 54 670,780
Delinquency Rate 33.10% 6.96%
Amount in Arrears $3,309 $5,908,849
Outstanding Portfolio $9,998 $84,939,868
Number of Loans Delinquent 32 24,345
Default Rate 12.15% 1.11%
Amount of Ended Loans Defaulted $2,980 $5,955,172
Amount of Ended Loans $24,525 $536,138,800
Number of Ended Loans Defaulted 25 17,855
Currency Exchange Loss Rate 0.17% 0.17%
Amount of Currency Exchange Loss $79 $1,106,295
Refund Rate 8.77% 0.71%
Amount of Refunded Loans $4,050 $4,711,375
Number of Refunded Loans 9 5,232

Loan Characteristics On Kiva

    This Field Partner All Kiva Partners
  Loans to Women Borrowers 44.44% 74.23%
Average Loan Size $179 $417
Average Individual Loan Size $455 $655
Average Group Loan Size $466 $1,841
Average number of borrowers per group 2.7 8
Average GDP per capita (PPP) in local country $11,249 $3,387
Average Loan Size / GDP per capita (PPP) 1.59% 12.32%
Average Time to Fund a Loan 0.65 days 6.05 days
Average Dollars Raised Per Day Per Loan $276.01 $68.95
  Average Loan Term 10.58 months 10.63 months

Journaling Performance on Kiva

    This Field Partner All Kiva Partners
  Total Journals 45 329,480
  Journaling Rate 38.57% 41.78%
  Average Number of Comments Per Journal 0.00 0.07
  Average Number of Recommendations Per Journal 0.00 1.68

Borrowing Cost Comparison (based on 2014 data)

    This Field Partner Median for MFI's in Country All Kiva Partners
  Average Cost to Borrower 0% APR 74.00% PY 32.96% PY
  Profitability (return on assets) N/A 1% -0.60%
  Average Loan Size (% of per capita income) N/A 4.00% 36.66%

Country Fast Facts

Field Partner Staff

Manuel Andrade
Ana Lucia Coll
Daniela Landaverde
Manuel Wiechers