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 ODEF 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. Honduras has imposed temporary moratoriums on loan payments, affecting not only microfinance, but the economy as a whole. 

As a result, borrowers and ODEF 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 ODEF. 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 ODEF to support them and their borrowers through the COVID-19 crisis. ODEF is sending regular updates to Kiva, and we'll update Partner Pages as we learn more. 

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

Partner Description:

ODEF Financiera SA (ODEF) is a microfinance institution that serves micro and small enterprises throughout the Northwest and the Atlantic Coast of Honduras. It focuses on women in rural and marginal urban areas, and provides loans for sustainable development and quality of life improvement.

The only organization of its kind in Honduras, ODEF analyzes and focuses on poverty reduction by providing loan products. Its goal is to become the leading microfinance institution in the country with the highest impact standards in the industry.

In 2005, ODEF introduced a technical assistance, social impact branch of its organization called ODEF-OPDF (Private Financial Development Organization, or Organización Privada de Desarrollo Financiero). This branch specializes in a more hands on, educational approach to assist borrowers in self-sufficiency and community development.

ODEF's unique lending team approach: ODEF targets low-income clients, stresses poverty reduction and focuses on sustainability and environmentally-friendly products. Because its staff and board are trained in social performance, ODEF is able to focus on these areas of interest. In the past, ODEF has offered loans for sustainable agriculture, soil conservation, and agroforestry.

In addition to agricultural loans, ODEF provides loans for consumption, small and medium enterprises, and housing. To ensure self-sustainability among its borrowers, the organization offers financial literacy education.

Because of the team’s methodological structure and the selective process for choosing borrowers, ODEF has achieved widespread impact as an organization. With an active portfolio of 500 million lempiras (US$25.3 million), 31 branches and more than 25,000 clients, ODEF has proved to be a successful partner with a promising future.


 


Repayment Performance on Kiva

    This Field Partner All Kiva Partners
  Start Date On Kiva Oct 8, 2011 Oct 12, 2005
Total Loans $6,040,275 $1,415,201,775
Amount of raised Inactive loans $424,100 $3,098,625
Number of raised Inactive loans 1 816
Amount of Paying Back Loans $762,300 $153,218,350
Number of Paying Back Loans 1,104 198,242
Amount of Ended Loans $4,853,875 $1,258,884,800
Number of Ended Loans 6,912 1,627,363
Delinquency Rate 30.07% 24.96%
Amount in Arrears $154,689 $24,162,592
Outstanding Portfolio $484,262 $96,803,743
Number of Loans Delinquent 934 129,935
Default Rate 0.84% 1.76%
Amount of Ended Loans Defaulted $40,598 $22,191,188
Number of Ended Loans Defaulted 110 53,824
Currency Exchange Loss Rate 0.05% 0.39%
Amount of Currency Exchange Loss $2,859 $5,553,194
Refund Rate 8.55% 0.63%
Amount of Refunded Loans $516,375 $8,893,175
Number of Refunded Loans 19 8,401

Loan Characteristics On Kiva

    This Field Partner All Kiva Partners
  Loans to Women Borrowers 58.90% 76.48%
Average Loan Size $671 $394
Average Individual Loan Size $751 $611
Average Group Loan Size $1,647 $1,762
Average number of borrowers per group 4 7.8
Average GDP per capita (PPP) in local country $4,800 $5,743
Average Loan Size / GDP per capita (PPP) 13.97% 6.86%
Average Time to Fund a Loan 10.97 days 7.19 days
Average Dollars Raised Per Day Per Loan $61.16 $54.80
  Average Loan Term 13.87 months 11.39 months

Journaling Performance on Kiva

    This Field Partner All Kiva Partners
  Total Journals 5,391 879,222
  Journaling Rate 68.19% 43.35%
  Average Number of Comments Per Journal 0.00 0.03
  Average Number of Recommendations Per Journal 0.00 0.73

Borrowing Cost Comparison (based on 2016 data)

    This Field Partner Median for MFI's in Country All Kiva Partners
  Average Cost to Borrower 34% PY 36.00% PY 25.91% PY
  Profitability (return on assets) 0.5% 2.2% -2.05%
  Average Loan Size (% of per capita income) 71.50% 41.00% 12.51%

Country Fast Facts

Field Partner Staff

Repayment Reporting API
ODEF FINANCIERA SA
Doris Aleyda Mazariegos
Nulvia Ramirez Gamoneda
Alexis Smith-Juvelis