Status Update — October 1, 2007

As you may be aware, each business on Kiva’s website is posted by one of Kiva’s 60+ Lending Partners in 39 developing countries.  A Lending Partner is an independent microfinance institution that has a history of lending to the poor for a social purpose. They screen each entrepreneur, post his/her profile on the Kiva website, and administer your loan.

Kiva routinely audits each Lending Partner to ensure your loan is being dutifully administered to the entrepreneur you’ve selected. In the course of auditing our Lending Partner, Women’s Initiative to Eradicate Poverty (WITEP) in Uganda, Kiva discovered that some entrepreneurs were not receiving the full amount of their loans. 

This violates Kiva’s policies and we have terminated our relationship with WITEP. All of the loans made to entrepreneurs served by this Lending Partner have been refunded. We hope you realize that our audit uncovered a true exception to the norm; the vast majority of our Lending Partners administer your loans with the highest integrity. Kiva will continue to audit Lending Partners to ensure your loan is being dutifully administered – and to make our website a model for transparency in international development.

 

Partner Description: 

Women Initiative to Eradicate Poverty (WITEP) is a non-government, community-based organization formed to alleviate poverty and improve the standard of living for the poor women of Uganda. Their objective is to mobilize and sensitize people in grassroots projects, focusing in food production and food security. Advocating for programmes that encourage the emancipation of women and youth, they provide for exchange of professional ideas and skills acquisition on social, political, and economic development.


Repayment Performance on Kiva

    This Lending Partner All Kiva Partners
  Start Date On Kiva May 10, 2006 Oct 12, 2005
Total Loans $4,500 $1,958,454,115
Amount of raised Inactive loans $0 $196,930
Number of raised Inactive loans 0 171
Amount of Paying Back Loans $0 $161,031,645
Number of Paying Back Loans 0 188,514
Amount of Ended Loans $4,500 $1,768,236,180
Number of Ended Loans 5 2,370,020
Delinquency Rate 0.00% 12.22%
Amount in Arrears $0 $12,205,675
Outstanding Portfolio $0 $99,884,553
Number of Loans Delinquent 0 72,810
Default Rate 0.00% 1.83%
Amount of Ended Loans Defaulted $0 $32,298,216
Number of Ended Loans Defaulted 0 84,743
Currency Exchange Loss Rate 0.00% 0.50%
Amount of Currency Exchange Loss $0 $11,931,838
Refund Rate 5,606.67% 0.54%
Amount of Refunded Loans $252,300 $10,526,300
Number of Refunded Loans 301 9,596

Loan Characteristics On Kiva

    This Lending Partner All Kiva Partners
  Loans to Women Borrowers 50.65% 78.22%
Average Loan Size $839 $392
Average Individual Loan Size $839 $589
Average Group Loan Size $0 $1,891
Average number of borrowers per group 0 8.3
Average GDP per capita (PPP) in local country $1,800 $5,599
Average Loan Size / GDP per capita (PPP) 46.62% 7.00%
Average Time to Fund a Loan 3.42 days 8.93 days
Average Dollars Raised Per Day Per Loan $245.15 $43.87
  Average Loan Term 8.11 months 11.47 months

Journaling Performance on Kiva

    This Lending Partner All Kiva Partners
  Total Journals 412 1,178,576
  Journaling Rate 100.00% 42.26%
  Average Number of Comments Per Journal 0.91 0.02
  Average Number of Recommendations Per Journal 3.30 0.57

Borrowing Cost Comparison (based on 2009 data)

    This Lending Partner Median for MFI's in Country All Kiva Partners
  Average Cost to Borrower N/A 57.00% PY 27.02% PY
  Profitability (return on assets) N/A 4.5% -3.10%
  Average Loan Size (% of per capita income) N/A 61.00% 0.00%

Country Fast Facts

Lending Partner Staff