KREDIT Ltd.
Cambodia
Last updated October 23, 2012
Partner Description:
KREDIT Ltd. (Cambodia Rural Economic Development Initiative for Transformation Microfinance Institution - formerly known as CREDIT) is an independent Cambodian faith-based organization founded in 1993. The organization aims to empower the economically-active poor and small entrepreneurs by providing inclusive financial services.
In 2007, it launched its Vulnerable Services Unit (VSU) with an aim to provide microfinance services to unbanked populations, including families living with HIV/AIDs. The early success of this program has attracted the attention of numerous worldwide donors such as Erikjalpen, Tear Fund Netherlands and Tear Fund New Zealand. As of October 2011, KREDIT had a portfolio of over US$40M in outstanding loans reaching 56,416 clients.
In the picture below loan officers at Kredit are helping the clients with the applications to apply for a loan.
Partnerships and awards
To further extend its services and impact, KREDIT partners with several reputable nonprofit organizations. For example, a partnership with Hagar, an organization that services vulnerable mothers and children, provides lower-than-market interest rate loans and mandatory savings to Hagar staff. The collaboration with the international NGO Habitat for Humanity enables KREDIT to expand home ownership to poorer clients.
Every year, CGAP issues awards to a few microfinance institutions to recognize transparency. Kredit received this award two years in a row, in 2006 and 2007. In addition, the National Bank of Cambodia recently granted the organization the license to collect deposits from clients. Today, the organization also offers savings and money transfer services.
Image courtesy of Kredit Ltd.
Partner Description:
KREDIT Ltd. (Cambodia Rural Economic Development Initiative for Transformation Microfinance Institution - formerly known as CREDIT) is an independent Cambodian faith-based organization founded in 1993. The organization aims to empower the economically-active poor and small entrepreneurs by providing inclusive financial services.
In 2007, it launched its Vulnerable Services Unit (VSU) with an aim to provide microfinance services to unbanked populations, including families living with HIV/AIDs. The early success of this program has attracted the attention of numerous worldwide donors such as Erikjalpen, Tear Fund Netherlands and Tear Fund New Zealand. As of October 2011, KREDIT had a portfolio of over US$40M in outstanding loans reaching 56,416 clients.
In the picture below loan officers at Kredit are helping the clients with the applications to apply for a loan.
Partnerships and awards
To further extend its services and impact, KREDIT partners with several reputable nonprofit organizations. For example, a partnership with Hagar, an organization that services vulnerable mothers and children, provides lower-than-market interest rate loans and mandatory savings to Hagar staff. The collaboration with the international NGO Habitat for Humanity enables KREDIT to expand home ownership to poorer clients.
Every year, CGAP issues awards to a few microfinance institutions to recognize transparency. Kredit received this award two years in a row, in 2006 and 2007. In addition, the National Bank of Cambodia recently granted the organization the license to collect deposits from clients. Today, the organization also offers savings and money transfer services.
Image courtesy of Kredit Ltd.
Repayment Performance on Kiva
Repayment Performance on Kiva| This Field Partner | All Kiva Partners | ||
| Start Date On Kiva | May 3, 2006 | Oct 12, 2005 | |
|---|---|---|---|
| Total Loans | $7,980,250 | $424,025,700 | |
| Amount of Raised Inactive Loans | $0 | $240,475 | |
| Number Of Raised Inactive Loans | 0 | 221 | |
| Amount of Paying Back Loans | $811,200 | $92,071,175 | |
| Number Of Paying Back Loans | 839 | 99,788 | |
| Amount of Ended Loans | $7,169,050 | $331,714,050 | |
| Number Of Ended Loans | 9,137 | 434,937 | |
| Delinquency Rate | 0.15% | 2.11% | |
| Amount In Arrears | $603 | $1,230,498 | |
| Outstanding Portfolio | $398,262 | $58,360,650 | |
| Number of Loans Delinquent | 6 | 9,862 | |
| Default Rate | 0.02% | 0.97% | |
| Amount of Ended Loans Defaulted | $1,610 | $3,220,059 | |
| Amount of Ended Loans | $7,169,050 | $331,714,050 | |
| Number Of Ended Loans Defaulted | 3 | 9,823 | |
| Currency Exchange Loss Rate | 0.00% | 0.02% | |
| Amount of Currency Exchange Loss | $0 | $77,435 | |
| Refund Rate | 0.95% | 0.96% | |
| Amount of Refunded Loans | $75,675 | $4,068,925 | |
| Number Of Refunded Loans | 95 | 4,589 |
Loan Characteristics On Kiva
Loan Characteristics On Kiva| This Field Partner | All Kiva Partners | ||
| Loans To Women Entrepreneurs | 91.23% | 74.04% | |
|---|---|---|---|
| Average Loan Size | $800 | $406 | |
| Average Individual Loan Size | $800 | $645 | |
| Average Group Loan Size | $1,000 | $1,742 | |
| Average Number Of Entrepreneurs Per Group | 2 | 8 | |
| Average GDP Per Capita (PPP) in Local Country | $2,600 | $3,346 | |
| Average Loan Size / GDP Per Capita (PPP) | 30.76% | 12.14% | |
| Average Time To Fund A Loan | 2.74 days | 4.69 days | |
| Average Dollars Raised Per Day Per Loan | $291.97 | $86.65 | |
| Average Loan Term | 15.05 months | 9.61 months |
Journaling Performance on Kiva
Journaling Performance on Kiva| This Field Partner | All Kiva Partners | ||
| Total Journals | 1,970 | 202,986 | |
|---|---|---|---|
| Journaling Rate | 19.16% | 39.95% | |
| Average Number Of Comments Per Journal | 0.22 | 0.11 | |
| Average Number Of Recommendations Per Journal | 10.70 | 2.73 |
Borrowing Cost Comparison (based on 2011 data)
Borrowing Cost Comparison (based on 2011 data)| This Field Partner | Median for MFI Peers in Country | All Kiva Partners | ||
| Portfolio Yield | 26.90% | 31.10% | 35.02% | |
|---|---|---|---|---|
| Profitability (Return on Assets) | 3.5% | 3.6% | -0.38% | |
| Average Loan Size (% of Per Capita Income) | 93.60% | 88.20% | 46.53% |
Country Fast Facts
Country Fast Facts- Country:
- Cambodia
- Capital:
- Phnom Penh
- Official Language:
- Khmer (official) 95%, French, English
- Population:
- 13,363,421
- Avg Annual Income:
- $2,600
- Labor Force:
- agriculture 75%
- Population Below Poverty Line:
- 36%
- Literacy Rate:
- 69.90%
- Infant Mortality Rate (per 1000):
- 73.67 deaths
- Life Expectancy:
- 58.41 years
Field Partner Staff
Joshua Benadumbo bo
mach Chan
socheata Chao
Sothea Dith
Team Editing
Soung Engchhay
Alexander Groeneveld
Vanhom Hay
Vibol HIM
Sopheap Khiev
Sambo Lim
Marjorie Marasigan
Vichet Ouch
Chhayna Phan
Yort PO
Vanara Rom
Riphin San
Mark Schmeissing
Isadora Tang
Sokly Thav
John Winslow