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

June 9, 2020 - COVID-19 Update:

Kiva has been in contact with Fundación ESPOIR to understand how we can best support their business and borrowers during the ever-evolving COVID-19 pandemic. We continue to prioritize the safety and well-being of all staff, borrowers and their families as this global pandemic continues.

While country-specific responses to the crisis vary, most governments have imposed curfews, travel restrictions, and nation-wide shutdowns. Ecuador has imposed temporary moratoriums on loan payments, affecting not only microfinance, but the economy as a whole. 

As a result, borrowers and Fundación ESPOIR may experience difficulty making and collecting loan repayments due to the aforementioned restrictions or fallout effects of the virus. Over the coming months, it’s possible that lenders will see a delay in repayments and new loans posted by Fundación ESPOIR. As an impact-first funder, Kiva is committed to serving our Lending Partners, as in past crises. We are sympathetic to temporary increases in repayment delays and delinquency in order to help Lending Partners and borrower communities recover. 

Kiva is working closely with Fundación ESPOIR to support them and their borrowers through the COVID-19 crisis. Fundación ESPOIR is sending regular updates to Kiva, and we'll update Partner Pages as we learn more. 

On behalf of Kiva and Fundación ESPOIR, we’re grateful for your continued support through this difficult time. 

Partner Description:

Fundación ESPOIR ("mi bankito") is an Ecuadorian NGO that specializes in communal banking for hard-working women. The organization is based in Quito and has two branch offices outside of the city, one in Azuay (Cuenca) and one in Manabi (Portoviejo).

ESPOIR serves low-income women who live in the marginalized urban and rural areas of Ecuador and who are unable to afford basic necessities. These women may or may not have previous business experience. To qualify for credit through ESPOIR, the only requirement is that they commit themselves to working hard, learning new skills, and improving life for their families.

The majority of ESPOIR's portfolio is dedicated to group loans. However, its individual loan sector is growing, as long-standing entrepreneurs with ESPOIR "graduate" from group loans to take on larger amounts. In addition, ESPOIR offers emergency, university and home improvement loan products.

As of December 2010, ESPOIR had over 70,000 borrowers who are virtually all women, with a portfolio of over $42 million.

A unique lending approach:

The health and financial literacy services Fundación ESPOIR provides to clients distinguishes it from most microcredit organizations in Ecuador. Educational topics range from setting personal and business goals to understanding reproductive health and nutrition. The Cuenca office also includes a medical clinic where about 300 entrepreneurs a month receive health services for themselves and their families from the two doctors on staff.

Repayment Performance on Kiva

    This Lending Partner All Kiva Partners
  Start Date On Kiva Jun 28, 2009 Oct 12, 2005
Total Loans $53,350,255 $1,958,818,855
Amount of raised Inactive loans $0 $250,565
Number of raised Inactive loans 0 237
Amount of Paying Back Loans $3,487,770 $161,326,725
Number of Paying Back Loans 3,377 188,875
Amount of Ended Loans $49,862,485 $1,768,237,830
Number of Ended Loans 45,711 2,370,066
Delinquency Rate 1.41% 12.18%
Amount in Arrears $33,606 $12,199,756
Outstanding Portfolio $1,665,187 $100,189,739
Number of Loans Delinquent 179 72,764
Default Rate 0.25% 1.83%
Amount of Ended Loans Defaulted $125,959 $32,304,134
Number of Ended Loans Defaulted 296 84,789
Currency Exchange Loss Rate 0.00% 0.50%
Amount of Currency Exchange Loss $0 $11,980,628
Refund Rate 0.10% 0.54%
Amount of Refunded Loans $53,125 $10,526,300
Number of Refunded Loans 45 9,596

Loan Characteristics On Kiva

    This Lending Partner All Kiva Partners
  Loans to Women Borrowers 88.27% 78.23%
Average Loan Size $855 $392
Average Individual Loan Size $987 $589
Average Group Loan Size $4,556 $1,891
Average number of borrowers per group 10.7 8.3
Average GDP per capita (PPP) in local country $10,600 $5,599
Average Loan Size / GDP per capita (PPP) 8.07% 7.00%
Average Time to Fund a Loan 8.03 days 8.93 days
Average Dollars Raised Per Day Per Loan $106.52 $43.86
  Average Loan Term 6.19 months 11.47 months

Journaling Performance on Kiva

    This Lending Partner All Kiva Partners
  Total Journals 27,548 1,178,627
  Journaling Rate 57.25% 42.26%
  Average Number of Comments Per Journal 0.04 0.02
  Average Number of Recommendations Per Journal 0.19 0.57

Borrowing Cost Comparison (based on 2016 data)

    This Lending Partner Median for MFI's in Country All Kiva Partners
  Average Cost to Borrower 29% PY 20.00% PY 27.02% PY
  Profitability (return on assets) 0.76% 1.8% -3.10%
  Average Loan Size (% of per capita income) N/A 49.00% 0.00%

Country Fast Facts

Lending Partner Staff

Leonard Della-Moretta
Monica Espinosa
Jessenia Freire
Gema Loor
Carlos Macias
Claudia Moreno
Cinthya Stephanie Vaca Freire
Vanessa Villacis