Status Update - April 1, 2013

Manuela Ramos / CrediMUJER is no longer using Kiva funding. After more than five years, $4.2 million in repaid loans and nearly 9,000 borrowers impacted, Kiva and Manuela Ramos have ended their partnership. During this time, the organization always made payments on time and has been a strong and reliable Field Partner. We thank them for their years of collaboration and hope to work with them again in the future.

September 11, 2011

As part of an ongoing effort to fully migrate risk ratings to our new and enhanced risk rating system, Kiva has conducted a re-assessment of the level of risk posed by this institution.

During this re-assessment, our analysts were able to gather updated operational and financial information about the institution, as well as speak with key members of the staff. 

The information gathered during this process, together with the Kiva's new risk rating system and half-star support, has led us to revise CrediMUJER's risk rating from 5 to 3.5 stars. The analysts have found that CrediMUJER's risk variables, reviewed in the new risk rating model, were most representative of a 3.5-Star rating.

We have prepared a blog post with more information on Kiva's new and enhanced risk rating system, along with a chart showing the relative magnitude of the overall changes for Kiva's portfolio.  To view that, please go here: http://www.kiva.org/updates/kiva/2011/09/07/kiva-risk-ratings-now-with-half-stars.html.

CrediMUJER has been informed of our analysts’ findings and their corresponding change in rating.

Original Partner Description

A nation-wide Peruvian nonprofit organization, the Movimiento Manuela Ramos is dedicated to creating a future where women and men interact in an equitable manner, and where they have equal opportunities for economic (and other) fulfillment.

Manuela Ramos' microfinance program, CrediMUJER, serves borrowers in 6 Peruvian provinces, focusing primarily on rural and peri-urban markets. Its headquarter offices are in Lima, Peru.

Our Mission

CrediMUJER’s mission is to facilitate access to financial services through education and the promotion of savings for business entrepreneurs and women with limited access to resources. CrediMUJER is present in rural and marginalized urban areas in six Peruvian provinces, working with women to strengthen their autonomy and economic independence by promoting decision-making and exercising institutional values and principles on a daily basis.

Strategic Objectives

• To position CrediMUJER as a micro finance service agency with a gender-based approach
• To develop and strengthen women's economic autonomy and to boost economic growth
• To have an effective, efficient, and competitive information system of financial and social management
• To be a flexible and sustainable organization supported by the development of human potential

 

Executive Director Gloria Diaz explains how Kiva lenders are supporting Manuela Ramos' work in Peru:

 

FINANCIAL PRODUCTS

Communal Banks

CrediMUJER’s main financial product is a group loan for communal banks, for groups of 10-30 women. The loans are staggered and start at 100 and 500 Soles, with the possibility of reaching 3,000 soles, with payment periods of 3-6 months.

Savings are voluntary and make up the “internal account” of the communal bank, which is managed by the bank members, with the assistance of the MFI and the Loan Officer.

Communal Bank members are also offered:

 

• Loan Campaigns: Fast-track parellell loans aimed at funding school registration, patron saint festivities, anniversaries, Christmas, and others
• Fixed Asset or Working Capital Loans: Fast-track parallel loans aimed at funding the purchase of fixed assets and working capital.
• School Loan: Parallel loan aimed at funding the purchase of school supplies, proms or graduations

Mientras tanto (Interim) Loan

 

• CrediMUJER also offers group loans aimed at training future Community Banks. Groups are comprised of 4-10 members, loan amounts range from 100 to 1500 soles, and payment periods are 3-6 months.

Life Insurance

“Vida Mujer” is micro-insurance developed for the security of clients and their loved ones. This product counts on the support of the “La Positiva Vida” and offers coverage in the case of natural death for a monthly premium of 1 sol.

 

• Join our lending team: "Manuela Ramos"

Status update on Manuela Ramos from Kiva Staff on April 1, 2010:

In March 2010, Kiva discovered that some recent loans posted on Kiva by Manuela Ramos had pictures that were altered using photo editing software. This is in violation of Kiva’s policies. Kiva investigated this matter and it became clear that these loans were being posted by one person who had recently been contracted by the organization’s San Martin branch office. That person has since been let go by Manuela Ramos. All loans that had pictures that were edited have been refunded, and the money returned to Kiva lenders. Kiva has conducted an audit of the loan profiles posted to Kiva by Manuela Ramos and has concluded that this was an isolated incident.