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 Field 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 Field 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.  

Repayment Performance on Kiva

    This Field Partner All Kiva Partners
  Start Date On Kiva Feb 3, 2014 Oct 12, 2005
Total Loans $80,250 $1,627,444,320
Amount of raised Inactive loans $0 $1,836,800
Number of raised Inactive loans 0 3,270
Amount of Paying Back Loans $400 $167,774,300
Number of Paying Back Loans 1 199,528
Amount of Ended Loans $79,850 $1,457,833,220
Number of Ended Loans 200 1,929,716
Delinquency Rate 100.00% 16.67%
Amount in Arrears $7 $17,694,042
Outstanding Portfolio $0 $106,142,259
Number of Loans Delinquent 1 78,835
Default Rate 47.51% 1.72%
Amount of Ended Loans Defaulted $37,933 $25,118,364
Number of Ended Loans Defaulted 131 62,644
Currency Exchange Loss Rate 0.02% 0.41%
Amount of Currency Exchange Loss $12 $7,206,933
Refund Rate 3.46% 0.58%
Amount of Refunded Loans $2,775 $9,496,275
Number of Refunded Loans 7 8,857

Loan Characteristics On Kiva

    This Field Partner All Kiva Partners
  Loans to Women Borrowers 73.08% 77.46%
Average Loan Size $399 $390
Average Individual Loan Size $399 $601
Average Group Loan Size $0 $1,800
Average number of borrowers per group 0 8
Average GDP per capita (PPP) in local country $7,000 $5,665
Average Loan Size / GDP per capita (PPP) 5.70% 6.89%
Average Time to Fund a Loan 1.42 days 8.12 days
Average Dollars Raised Per Day Per Loan $280.88 $48.05
  Average Loan Term 16.97 months 11.36 months

Journaling Performance on Kiva

    This Field Partner All Kiva Partners
  Total Journals 95 986,043
  Journaling Rate 27.86% 42.07%
  Average Number of Comments Per Journal 0.00 0.03
  Average Number of Recommendations Per Journal 0.00 0.67

Borrowing Cost Comparison (based on 2015 data)

    This Field Partner Median for MFI's in Country All Kiva Partners
  Average Cost to Borrower 0% APR 46.00% PY 26.75% PY
  Profitability (return on assets) N/A 4.8% 0.10%
  Average Loan Size (% of per capita income) N/A 8.00% 11.50%

Country Fast Facts

Field Partner Staff

Irish Abello
Tippi Fernandez
Ronilo Geroy
Zhihan Lee
Queobel Tacorda