Kiva conducts regular," ongoing monitoring "of all Field Partners, but only posts status updates here"in response to relevant,"major changes at the"partner. Status update ? April 1, 2016 Kiva has moved this Field Partner to inactive status. This means Accion East is no longer fundraising loans on Kiva, though Kiva fully expects the partner to continue to send repayments owed to Kiva lenders for as long as the partner has an outstanding balance. The reasons a partner might become inactive include: taking time to develop a new type of loan, turnover on the partner?s management team, a shift in overall strategy or changes in funding sources. If and when this partner requests to fundraise again on Kiva, Kiva will first conduct any additional monitoring and due diligence tasks we believe necessary. Partner Description: Accion East "is a nonprofit organization committed to providing"microfinance services to small business owners nationwide via" an online"lending platform "and community outreach. Through its loans and financial education services, their clients--often"minorities, immigrants and women -- can build assets, better provide for their families and"strengthen their communities. Accion East is part of the US Accion Network, the largest domestic microlending network, with over $272 million lent since 1991. Its lending model is the product of over 50 years of Accion experience in providing credit"to low-to-moderate income individuals worldwide, customized to meet the unique needs of"microbusinesses operating in the United States. The need for microloans in the United States: In the U.S., with over 25 million small businesses, many small businesowners lack access to traditional bank credit because their loan requests are too small, their length of time in business is too short, or they operate in an industry that banks typically do not consider like home-based sales. The face of U.S. microfinance is familiar -- Accion East?s borrowers range from the owner of your favorite local restaurant to your child?s home-based daycare provider to the operator of a larger trucking company. While their financial and ethnic backgrounds may differ, they all share the challenge of insufficient access to small business loans. Accion East?s impact in the United States: 1) Contribute to job creation:" Each loan that Accion East provides contributes to the creation or retention of 4.3 jobs (not including that of the borrower), predominantly in low-to-moderate income communities. 2) Increase wages in low-to-moderate income communities: "Business owners increase their take-home pay by 25% 3) Improve business survival: "97% of existing businesses were still in business by year-end 2013 (compared to a national average of 70%). Businesses grow revenue by 16%. Loan products and services: Accion East responds to the needs of small businesses with loans, business development and credit training services. Its loan consultants work one-on-one with borrowers to provide: 1)" Small business microloans that average $7,000 2) "One-on-one credit and business education and assistance 3)" Financial education via one-on-one consultations, in addition to online resources and community workshops Status update ? April 15th, 2014 "Accion East" is the new brand name of Accion East and Online. Status Update ? December 12, 2012 Accion East and Online is the new brand name of Accion USA. The change in branding has been reflected throughout the Kiva site and relevant loans.

Repayment Performance on Kiva

    This Field Partner All Kiva Partners
  Start Date On Kiva Jun 10, 2009 Oct 12, 2005
Total Loans $4,093,425 $1,758,239,665
Amount of raised Inactive loans $0 $441,550
Number of raised Inactive loans 0 132
Amount of Paying Back Loans $0 $163,202,810
Number of Paying Back Loans 0 193,982
Amount of Ended Loans $4,093,425 $1,591,353,280
Number of Ended Loans 888 2,108,808
Delinquency Rate 0.00% 15.34%
Amount in Arrears $0 $15,585,726
Outstanding Portfolio $0 $101,609,202
Number of Loans Delinquent 0 72,330
Default Rate 11.77% 1.70%
Amount of Ended Loans Defaulted $481,803 $26,998,026
Number of Ended Loans Defaulted 195 70,224
Currency Exchange Loss Rate 0.00% 0.46%
Amount of Currency Exchange Loss $0 $9,202,644
Refund Rate 1.02% 0.57%
Amount of Refunded Loans $41,675 $9,961,195
Number of Refunded Loans 9 9,182

Loan Characteristics On Kiva

    This Field Partner All Kiva Partners
  Loans to Women Borrowers 41.17% 77.81%
Average Loan Size $4,610 $389
Average Individual Loan Size $4,610 $594
Average Group Loan Size $0 $1,839
Average number of borrowers per group 0 8.2
Average GDP per capita (PPP) in local country $54,800 $5,628
Average Loan Size / GDP per capita (PPP) 8.41% 6.90%
Average Time to Fund a Loan 11.97 days 8.44 days
Average Dollars Raised Per Day Per Loan $385.13 $46.05
  Average Loan Term 21.88 months 11.38 months

Journaling Performance on Kiva

    This Field Partner All Kiva Partners
  Total Journals 138 1,071,973
  Journaling Rate 10.92% 42.48%
  Average Number of Comments Per Journal 0.32 0.03
  Average Number of Recommendations Per Journal 2.50 0.62

Borrowing Cost Comparison (based on 2009 data)

    This Field Partner Median for MFI's in Country All Kiva Partners
  Average Cost to Borrower 11% PY N/A 26.11% PY
  Profitability (return on assets) N/A N/A 0.00%
  Average Loan Size (% of per capita income) N/A N/A 0.00%

Country Fast Facts

Field Partner Staff

Viviana Chan
John Junga
Paul Quintero
Anne Sormani
Jennifer Spaziano