Update from Kiva

REDC was acquired by another Kiva partner, Mikrofond EAD in Bulgaria.

Original description

REGIONALEN CENTAR ZA IKONOMICHESKO RAZVITIE This organization currently focuses its efforts in and around Sliven, Bulgaria. REDC Bulgaria can be contacted directly at redc@sliven.net. Listen to an interview with Greg Kelly, a volunteer working with REDC, here www.kivapodcast.com/index.php?post_id=184560.

Repayment Performance on Kiva

    This Field Partner All Kiva Partners
  Start Date On Kiva Feb 15, 2006 Oct 12, 2005
Total Loans $36,700 $1,332,136,350
Amount of raised Inactive loans $0 $615,625
Number of raised Inactive loans 0 770
Amount of Paying Back Loans $0 $142,737,475
Number of Paying Back Loans 0 188,796
Amount of Ended Loans $36,700 $1,188,783,250
Number of Ended Loans 37 1,530,354
Delinquency Rate 0.00% 10.48%
Amount in Arrears $0 $9,233,236
Outstanding Portfolio $0 $88,104,153
Number of Loans Delinquent 0 47,231
Default Rate 14.46% 1.74%
Amount of Ended Loans Defaulted $5,305 $20,632,907
Number of Ended Loans Defaulted 6 50,311
Currency Exchange Loss Rate 0.00% 0.39%
Amount of Currency Exchange Loss $0 $5,194,263
Refund Rate 2.72% 0.59%
Amount of Refunded Loans $1,000 $7,885,125
Number of Refunded Loans 1 7,780

Loan Characteristics On Kiva

    This Field Partner All Kiva Partners
  Loans to Women Borrowers 34.21% 76.40%
Average Loan Size $992 $394
Average Individual Loan Size $992 $609
Average Group Loan Size $0 $1,761
Average number of borrowers per group 0 7.7
Average GDP per capita (PPP) in local country $14,400 $5,775
Average Loan Size / GDP per capita (PPP) 6.89% 6.82%
Average Time to Fund a Loan 14.03 days 7.13 days
Average Dollars Raised Per Day Per Loan $70.74 $55.26
  Average Loan Term 14.58 months 11.34 months

Journaling Performance on Kiva

    This Field Partner All Kiva Partners
  Total Journals 66 790,544
  Journaling Rate 67.65% 43.13%
  Average Number of Comments Per Journal 1.68 0.03
  Average Number of Recommendations Per Journal 4.35 0.80

Borrowing Cost Comparison (based on 2009 data)

    This Field Partner Median for MFI's in Country All Kiva Partners
  Average Cost to Borrower N/A 20.00% PY 25.36% PY
  Profitability (return on assets) N/A 2.4% -1.98%
  Average Loan Size (% of per capita income) N/A 71.00% 12.96%

Country Fast Facts

Field Partner Staff

Stefka Fandakova
Greg Kelly
Julietta Nikolova
Nikolay Sidjimov
Jason Smith
Margarita Stefanova
Radostina Yordanova