Status update — December 20, 2017
Kiva and BagoSphere have agreed to end their partnership after nearly 4 years and more than $80,000 in loans raised. BagoSphere experienced operational problems running its own credit program and has partnered with local microfinance institutions to offer loans to its students going forward. As a result, they no longer need Kiva funding. This Lending Partner has now repaid its outstanding balance to Kiva in full, and these funds have been distributed to lenders. We thank BagoSphere for the years of collaboration and wish them success in their future endeavors.

Status update — December 16, 2016
Kiva has moved this Lending Partner to inactive status, which means BagoSphere is no longer fundraising loans on the Kiva platform. BagoSphere has experienced operational difficulties this year, resulting in many of their borrowers being behind on repayment. While their delinquency rate is currently 66.18%, Kiva expects the partner to continue to work to collect on repayments owed to Kiva lenders and remit any funds received back to Kiva. We will share more information as it become available. 

Partner description: 
BagoSphere provides vocational training in the Philippines to help rural youth prepare for call center jobs. These jobs enable young people to earn far more than they could at unskilled labor positions, and enable them to save for professional and personal development goals. BagoSphere focuses on serving low-income, out-of-school youth from rural areas; building important life skills, such as personal financial literacy; and delivering a comprehensive program with more than 80% job placement rates.

A Unique Lending Approach:
BagoSphere has a “study now pay later” tuition loan program with 0% interest for students admitted to their program that demonstrate financial need.  Kiva capital would be used to extend this program. They piloted this program in 2013 by providing 15 loans with support from Kiva partner Negros Women for Tomorrow Foundation.  Going forward, BagoSphere would like to develop loan capacity in-house and hopes to scale this program over time as an integral part of the services they provide.