Status Update - 30th November 2015

Kiva and Funda-Pró have agreed to end their partnership after more than 2 years during which time Funda-Pró fundraised more than 124,000 USD in loans on Kiva. Funda-Pró decided to suspend all of its loan programs including its higher education loan program which has been transferred over to another microfinance entity with whom Kiva is currently evaluating a potential partnership. Funda-Pró has repaid its outstanding balance to Kiva in full, and these funds have been distributed to lenders. Kiva's partnership with Funda-Pró is now closed. We thank Funda-Pró for the years of collaboration and wish them success in their future endeavors.

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

Partner Description:

FUNDA-PRO is a nonprofit organization considered to be one of Bolivia’s leading financial institutions focused on developing Bolivia’s rural business sector. Established in 1992, FUNDA-PRO raised enough capital to grow its offerings and geographic footprint. In the process, it became instrumental in the development of Bolivia’s microfinance sector, providing funding to many emerging MFIs.

Among the many programs that FUNDA-PRO manages, one of the most prominent is EDUCA-PRO. Established in 1996, it was created to offer loans at flexible rates and terms to students who couldn’t otherwise graduate due to financial constraints. EDUCA-PRO’s goalis to bridge the gap between Bolivia’s education sector and job market by providing students with the resources they need to gain skills and complete their degrees.

A unique lending approach

Today with Kiva’s help, EDUCA-PRO will be able to expand its outreach in remote and rural areas, supporting students in their pursuit of degrees and jobs to help their families. EDUCA-PRO will also be offering a unique “start-up” loan product that will enable recent university graduates to set up their own businesses. The goal is to incentivize entrepreneurship among young people in Bolivia.

Repayment Performance on Kiva

    This Field Partner All Kiva Partners
  Start Date On Kiva Sep 19, 2013 Oct 12, 2005
Total Loans $124,575 $1,449,369,725
Amount of raised Inactive loans $0 $1,208,375
Number of raised Inactive loans 0 250
Amount of Paying Back Loans $0 $146,793,450
Number of Paying Back Loans 0 166,255
Amount of Ended Loans $124,575 $1,301,367,900
Number of Ended Loans 74 1,706,449
Delinquency Rate 0.00% 22.34%
Amount in Arrears $0 $21,032,049
Outstanding Portfolio $0 $94,127,897
Number of Loans Delinquent 0 73,201
Default Rate 0.00% 1.73%
Amount of Ended Loans Defaulted $0 $22,469,421
Number of Ended Loans Defaulted 0 54,461
Currency Exchange Loss Rate 0.00% 0.40%
Amount of Currency Exchange Loss $0 $5,838,311
Refund Rate 0.00% 0.63%
Amount of Refunded Loans $0 $9,150,775
Number of Refunded Loans 0 8,489

Loan Characteristics On Kiva

    This Field Partner All Kiva Partners
  Loans to Women Borrowers 48.05% 76.68%
Average Loan Size $1,683 $395
Average Individual Loan Size $1,683 $611
Average Group Loan Size $0 $1,773
Average number of borrowers per group 0 7.8
Average GDP per capita (PPP) in local country $5,500 $5,730
Average Loan Size / GDP per capita (PPP) 30.61% 6.89%
Average Time to Fund a Loan 6.74 days 7.43 days
Average Dollars Raised Per Day Per Loan $249.94 $53.14
  Average Loan Term 37.77 months 11.37 months

Journaling Performance on Kiva

    This Field Partner All Kiva Partners
  Total Journals 0 910,334
  Journaling Rate 0.00% 43.83%
  Average Number of Comments Per Journal 0.00 0.03
  Average Number of Recommendations Per Journal 0.00 0.70

Borrowing Cost Comparison (based on 2013 data)

    This Field Partner Median for MFI's in Country All Kiva Partners
  Average Cost to Borrower 9% APR 20.00% PY 25.38% PY
  Profitability (return on assets) -0.6% 1.5% -1.35%
  Average Loan Size (% of per capita income) N/A 88.00% 12.34%

Country Fast Facts

Field Partner Staff

Fernando Aguilar
Nadia Alcazar García
Elisa Angulo Torrico
Edgar Arias Alcázar
Sergio Buitrago Burgoa
Lorena Dávila López
Miguel Durán Molina
Jhonny Espejo Ticona
Nely La Mar Velasco
Roly Marica Balcazar
Daniela Murillo Quiroga
Oscar Olmos Ramirez
Marco Antonio Salinas Pereira