Kiva conducts regular, ongoing monitoring of all Field 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 VisionFund Ecuador 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 VisionFund Ecuador 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 VisionFund Ecuador. As an impact-first funder, Kiva is committed to serving our Field Partners, as in past crises. We are sympathetic to temporary increases in repayment delays and delinquency in order to help Field Partners and borrower communities recover. 

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

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

Update: April 1, 2015

As of 2015, Kiva Field Partner Fondo de Desarrollo Microempresarial (FODEMI), a partner of WorldVision International, formally changed its name to VisionFund Ecuador, to better align itself with other VisionFund International microfinance organizations and to reflect its transition to a more rigorously regulated microfinance institution in Ecuador.

Partner Description:

VisionFund Ecuador, formerly FODEMI, is a microenterprise development fund that supports groups of entrepreneurs who have no access to formal financial systems. The organization works with vulnerable populations, especially women, in the marginalized urban and rural sectors of Ecuador. Its clients work in a variety of sectors including agriculture, artisan crafts and the commercial and service sectors.

Founded in 1995, the organization helps poor people in rural areas to start or expand their businesses by offering microloans and a wide range of training and business services. Those who apply for a loan through VisionFund Ecuador receive supervision and guaranteed support from a team of technicians in charge of ensuring safe utilization of funds, as well as training in ‘soft’ skills to help them succeed in their businesses.

To date, the organization has helped more than 300 clients in Ecuador to establish or improve their businesses. Kiva lenders’ funds are used to expand the organization’s services to the poor living in more rural parts of Ecuador.

A unique lending approach:

VisionFund Ecuador offers short term loans to micro-enterprise owners who require funding to develop their businesses. The guarantees and the requirements are minimal because the organization is targeting poor people in rural areas. According to the organization, the most important requirement is clients’ solidarity and moral responsibility.



VisionFund Ecuador's financial services include community banking, individual credit and solidarity group loans. Community banking loans are designed to help people with common goals access finance without substantial collateral. In contrast, individual credit is offered to micro or small business owners who have the capacity to pay, are financially solvent and meet all of the credit requirements. Group loans are designed to give access to credit without personal guarantees through the formation of a group whose members mutually guarantee each other’s commitment.


Repayment Performance on Kiva

    This Field Partner All Kiva Partners
  Start Date On Kiva Apr 28, 2011 Oct 12, 2005
Total Loans $10,337,750 $1,411,965,700
Amount of raised Inactive loans $500,000 $3,148,600
Number of raised Inactive loans 1 623
Amount of Paying Back Loans $1,804,450 $150,192,800
Number of Paying Back Loans 1,808 195,744
Amount of Ended Loans $8,033,300 $1,258,624,300
Number of Ended Loans 8,400 1,627,010
Delinquency Rate 22.35% 26.10%
Amount in Arrears $234,767 $24,507,566
Outstanding Portfolio $1,047,727 $93,911,247
Number of Loans Delinquent 1,767 131,420
Default Rate 0.37% 1.76%
Amount of Ended Loans Defaulted $29,968 $22,187,519
Number of Ended Loans Defaulted 41 53,814
Currency Exchange Loss Rate 0.00% 0.39%
Amount of Currency Exchange Loss $0 $5,484,508
Refund Rate 0.13% 0.63%
Amount of Refunded Loans $13,125 $8,892,600
Number of Refunded Loans 14 8,400

Loan Characteristics On Kiva

    This Field Partner All Kiva Partners
  Loans to Women Borrowers 69.06% 76.46%
Average Loan Size $905 $394
Average Individual Loan Size $944 $611
Average Group Loan Size $4,174 $1,762
Average number of borrowers per group 6.6 7.8
Average GDP per capita (PPP) in local country $10,600 $5,743
Average Loan Size / GDP per capita (PPP) 8.54% 6.86%
Average Time to Fund a Loan 10.03 days 7.19 days
Average Dollars Raised Per Day Per Loan $90.16 $54.80
  Average Loan Term 14.51 months 11.38 months

Journaling Performance on Kiva

    This Field Partner All Kiva Partners
  Total Journals 3,458 869,325
  Journaling Rate 35.20% 43.35%
  Average Number of Comments Per Journal 0.00 0.03
  Average Number of Recommendations Per Journal 0.00 0.74

Borrowing Cost Comparison (based on 2017 data)

    This Field Partner Median for MFI's in Country All Kiva Partners
  Average Cost to Borrower 23% PY 20.00% PY 25.90% PY
  Profitability (return on assets) 2.9% 1.8% -2.02%
  Average Loan Size (% of per capita income) 13.40% 49.00% 12.51%

Country Fast Facts

Field Partner Staff

Leidy Bastidas
Lorena Burgos
Franklin Changoluisa
Magdalena Jingo
Jorge Malte
Diana Minda
Francia Navarrete
Daniel Revelo
Luis Fernando Rios Ramos
Soledad Tua
Avelardo Tucanes
Diego Valarezo
Silvia Yugcha