Kiva conducts regular, ongoing monitoring of all Field Partners, but only posts status updates here in response to relevant, major changes at the partner.

Partner Description:

Pana Pana is a nonprofit civil association founded in 1990 in Nicaragua. The organization’s official name is Asociacion para el Desarrollo de la Costa Atlantica (Association for the Development of the Atlantic Coast) but they have always been known as Pana Pana which means “mutual help” in the local language.

Established in Nicaragua’s post revolution era, Pana Pana aims to foster economic development mainly in the regions that were affected by revolutions and war. Pana Pana is located in the Region Autonoma del Atlántico Norte (RAAN), a semi-autonomous region in northeast Nicaragua that was particularly devastated during the war. The RAAN was remarkably cut off from the rest of Nicaragua until recently and has a very high indigenous population (90%, made up of Miskito, Mayangna and Creoles). Until now, geographically, the RAAN remains quite inaccessible.

The organization’s earliest projects supported families to rehabilitate homes that had been destroyed and plant basic grains and crops for their own sustenance. In coastal areas, Pana Pana’s focus was on teaching artisanal fishing techniques and how to construct canoes.

Today, Pana Pana offers loans for commerce, housing, and a small number of agriculture loans. They also have a small social development unit that runs Pana Pana’s non-financial services. This includes technical assistance for housing loans and the development of a water and sanitation project.

Kiva lenders’ funds are used to support the loan products including a) communal banks, b) water and sanitation and c) agriculture loans. Kiva is thrilled to help Pana Pana improve the livelihoods of the communities in RAAN.

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A unique lending approach:

Pana Pana is working with communal banks exclusively in areas that have no other access to microfinance including Waspam. Due to the extreme distance that loan officers have to travel, high operating expenses have dissuaded Pana Pana from expanding this program. By financing communal banks, Kiva would be serving clients that have literally no other access to loans, and at the same time would be lowering Pana Pana’s cost of capital so that the operating expenses for expanding this product become affordable.

Additionally, Pana Pana is currently in the process of launching a water and sanitation loan product. Lack of drinking water and lack of access to proper sanitation facilities is a huge problem in the RAAN. In conjunction with Water Aid, Pana Pana will train women on how to make environmentally friendly toilets that are appropriate for rural use. Then the women will actually sell the product to rural families who lack access to sanitation services. Loans would be for the female entrepreneurs to obtain and assemble the product and to support the women as they begin the sales process. Pana Pana also plans to offer more agricultural loans in areas where agriculture is the main source of income. Currently, Pana Pana is offering very few agriculture loans. Since the organization has such limited funds, they cannot fund high-risk initiatives that will require long loan terms and a one year grace period. Kiva funding would enable them to support rural families that produce tubers and plantains on communal land.
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Repayment Performance on Kiva

    This Field Partner All Kiva Partners
  Start Date On Kiva Oct 4, 2013 Oct 12, 2005
Total Loans $480,175 $711,336,875
Amount of raised Inactive loans $0 $416,850
Number of raised Inactive loans 0 252
Amount of Paying Back Loans $227,150 $133,649,125
Number of Paying Back Loans 326 152,636
Amount of Ended Loans $253,025 $577,270,900
Number of Ended Loans 427 716,692
Delinquency Rate 5.15% 8.38%
Amount in Arrears $5,896 $7,331,420
Outstanding Portfolio $114,400 $87,526,731
Number of Loans Delinquent 46 28,677
Default Rate 0.79% 1.12%
Amount of Ended Loans Defaulted $1,992 $6,485,241
Amount of Ended Loans $253,025 $577,270,900
Number of Ended Loans Defaulted 7 19,256
Currency Exchange Loss Rate 0.00% 0.25%
Amount of Currency Exchange Loss $2 $1,755,454
Refund Rate 0.00% 0.69%
Amount of Refunded Loans $0 $4,879,850
Number of Refunded Loans 0 5,378

Loan Characteristics On Kiva

    This Field Partner All Kiva Partners
  Loans to Women Borrowers 75.84% 74.34%
Average Loan Size $348 $417
Average Individual Loan Size $577 $654
Average Group Loan Size $757 $1,846
Average number of borrowers per group 3.5 8
Average GDP per capita (PPP) in local country $4,800 $5,942
Average Loan Size / GDP per capita (PPP) 7.25% 7.01%
Average Time to Fund a Loan 13.01 days 6.3 days
Average Dollars Raised Per Day Per Loan $26.74 $66.17
  Average Loan Term 9.1 months 10.74 months

Journaling Performance on Kiva

    This Field Partner All Kiva Partners
  Total Journals 33 350,480
  Journaling Rate 5.40% 41.43%
  Average Number of Comments Per Journal 0.00 0.07
  Average Number of Recommendations Per Journal 0.00 1.58

Borrowing Cost Comparison (based on 2013 data)

    This Field Partner Median for MFI's in Country All Kiva Partners
  Average Cost to Borrower 46% PY 27.00% PY 32.02% PY
  Profitability (return on assets) 6.9% 0.9% -1.92%
  Average Loan Size (% of per capita income) N/A 40.00% 19.63%

Country Fast Facts

Field Partner Staff

Jefty Borst Chow
Tania Hayde Diaz Rivas
Licha María Espinoza Padilla
Luis Wilson Guill
Lucila Law Blanco