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 - January 14, 2021 Earthspark has fully repaid its negotiated balance with Kiva and these funds have been distributed to lenders. We thank Earthspark for the years of collaboration and wish them success in their future endeavors. In 2016, Hurricane Matthew severely damaged the Les Anglais micro-grid that Kiva lenders helped to finance. Since then, Earthspark has rebuilt the grid and reconnected the community. However, as 70% of the original Kiva lender investment was lost in the hurricane, it was agreed that Earthspark would repay 30% of the original outstanding balance. That 30% has now been repaid. Status update ? May 22, 2018 Since the devastation caused by Hurricane Matthew, EarthSpark has managed to repair their microgrid at Les Anglais reconnecting 50 homes and businesses so far, with more to be reconnected soon. EarthSpark estimates however that 70% of the original Kiva investment has been lost. In order to account for that equipment loss, we have decided to write-off part of Kiva?s outstanding balance with EarthSpark and have entered into an agreement to repay the remaining balance over the course of the next 3 years. Payments should start in October of this year and will be settled pro-rata to lenders. Status update - August 18, 2017 Kiva has moved this Field Partner to inactive status, which means EarthSpark 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. EarthSpark is still working to repair the Les Anglais microgrid following the devastation caused by Hurricane Matthew in October 2016. Once the grid is repaired and households reconnected, repayments to Kiva lenders will resume. 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. Status update - November 14, 2016 EarthSpark loans are paid back over time by electricity sales and are collateralized by a portion of the electricity payments of the entire community."As Kiva requires partners to give an end date for all loans, the loan term is an estimation of the time clients will take to consume enough electricity to fully pay back connection costs. EarthSpark's first loan terms were underestimated, and as a result, their delinquency rate is currently around 20%. Furthermore, following hurricane Matthew in October 2016, and the devastation caused in Les Anglais as a result of the storm, there's a high probability that repayments will take even longer than anticipated, as clients slowly consume enough energy to fully pay back the connection costs. Kiva remains in contact with this partner, and as time goes on, we expect their delinquency rate to eventually drop as loans are repaid through the community's energy consumption." Partner description: EarthSpark International is a nonprofit organization dedicated to eradicating energy poverty in Haiti with innovative technology and financing solutions. By expanding market access for lower-income Haitians, the organization is putting affordable, portable solar lighting and improved cookstoves in the hands of people who need it most. Today, 75% of Haitian households are forced to rely on toxic and expensive fuels, such as kerosene, for energy. While some alternatives do exist, most rural Haitians cannot afford the upfront costs of purchasing them, nor can they cover the costs of traveling to urban centers where they are sold. When made affordable, solar technologies are a promising alternative for lighting, where the norm in rural Haitian communities is kerosene. For cooking, improved cookstoves that use pressurized kerosene are a drastic improvement over the household norm, which is charcoal. "The organization aims to build supply chains for small-scale clean energy technologies. Given that off-the-grid households spend an average of 25% of their incomes on dirty, low-quality sources of energy, these technologies have the opportunity to radically improve people?s quality of life while saving them money in the long run. EarthSpark?s supply chains connect manufacturers, importers, distributors and end users. It does this by providing goods through both brick and mortar stores and a network of small-scale entrepreneurs. Its first store, based in Les Anglais, Haiti, sells a range of clean energy products, from solar light bulbs to improved cookstoves. EarthSpark?s stores also serve as hubs for the micro-entrepreneurs selling the nonprofit?s products. After training, these men and women are each provided with a business-in-a-bag, which includes marketing materials and product guides. Entrepreneurs who sell these products can generate enough additional income to run self-sustaining businesses." EarthSpark and Kiva: By partnering with Kiva, EarthSpark will be able to expand its business-in-a-bag model and get clean energy products to rural, lower-income households in Haiti. When you lend to an EarthSpark entrepreneur, the loan pays for the business-in-a-bag startup kit. The borrower then pays back the loan with profit generated from sales. Every time this happens, their business gets bigger and stronger. EarthSpark joined Kiva through our Basic Partnership Program and has therefore received a lighter level of due diligence. Accordingly, loans associated with this partner pose a higher level of risk than typical Kiva loans.

Repayment Performance on Kiva

    This Field Partner All Kiva Partners
  Start Date On Kiva Dec 6, 2012 Oct 12, 2005
Total Loans $196,500 $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 $196,500 $1,591,353,280
Number of Ended Loans 519 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 38.82% 1.70%
Amount of Ended Loans Defaulted $76,284 $26,998,026
Number of Ended Loans Defaulted 379 70,224
Currency Exchange Loss Rate 1.04% 0.46%
Amount of Currency Exchange Loss $2,047 $9,202,644
Refund Rate 0.00% 0.57%
Amount of Refunded Loans $0 $9,961,195
Number of Refunded Loans 0 9,182

Loan Characteristics On Kiva

    This Field Partner All Kiva Partners
  Loans to Women Borrowers 57.31% 77.81%
Average Loan Size $379 $389
Average Individual Loan Size $379 $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 $1,300 $5,628
Average Loan Size / GDP per capita (PPP) 29.12% 6.90%
Average Time to Fund a Loan 3.85 days 8.44 days
Average Dollars Raised Per Day Per Loan $98.42 $46.05
  Average Loan Term 60.3 months 11.38 months

Journaling Performance on Kiva

    This Field Partner All Kiva Partners
  Total Journals 3,015 1,071,973
  Journaling Rate 87.48% 42.48%
  Average Number of Comments Per Journal 0.00 0.03
  Average Number of Recommendations Per Journal 0.00 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 0% APR 51.00% PY 26.11% PY
  Profitability (return on assets) N/A 4.2% 0.00%
  Average Loan Size (% of per capita income) N/A 95.00% 0.00%

Country Fast Facts

Field Partner Staff

Rachel McManus