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:

Vahatra is a non-profit organization in Madagascar that provides loans to low-income families who earn an average of $1 a day.

Vahatra's lending is focused primarily on supporting clients' new or existing income-generating activities. The organization has also designed loan products to help borrowers pay for school fees, emergency situations, professional training, and to support community-based social groups. Vahatra carefully evaluates each family’s need and economic capacity before issuing a loan in order to tailor a solution for each situation.

A unique lending approach:

Vahatra provides loans to low-income families. Borrowers can take out loans for a range of services including enterprise loans to cover commerce, and social loans to cover professional training and school fees. Additionally, the organization offers health insurance at two branches, provides career development training to young people, and runs a preschool and other family services.
Vahatra offers two customizable microenterprise loan products- a “first loan” and a “subsequent loan.” First loans are capped at $60, while subsequent loans can be as much as $1,400, depending on client capacity and repayment history during previous loan cycles. With Kiva funding, this small organization will be able to provide services to to more families.


Repayment Performance on Kiva

    This Field Partner All Kiva Partners
  Start Date On Kiva Mar 2, 2015 Oct 12, 2005
Total Loans $1,168,550 $1,342,243,800
Amount of raised Inactive loans $0 $1,129,300
Number of raised Inactive loans 0 1,461
Amount of Paying Back Loans $166,500 $147,423,550
Number of Paying Back Loans 651 194,726
Amount of Ended Loans $1,002,050 $1,193,690,950
Number of Ended Loans 3,682 1,537,959
Delinquency Rate 27.91% 10.51%
Amount in Arrears $26,558 $9,735,701
Outstanding Portfolio $95,115 $92,639,883
Number of Loans Delinquent 379 57,667
Default Rate 0.06% 1.76%
Amount of Ended Loans Defaulted $617 $21,037,796
Number of Ended Loans Defaulted 9 51,424
Currency Exchange Loss Rate 0.25% 0.39%
Amount of Currency Exchange Loss $2,944 $5,195,382
Refund Rate 0.09% 0.59%
Amount of Refunded Loans $1,100 $7,939,025
Number of Refunded Loans 3 7,847

Loan Characteristics On Kiva

    This Field Partner All Kiva Partners
  Loans to Women Borrowers 68.38% 76.42%
Average Loan Size $270 $394
Average Individual Loan Size $270 $609
Average Group Loan Size $0 $1,762
Average number of borrowers per group 0 7.7
Average GDP per capita (PPP) in local country $1,000 $5,773
Average Loan Size / GDP per capita (PPP) 26.98% 6.82%
Average Time to Fund a Loan 1.33 days 7.13 days
Average Dollars Raised Per Day Per Loan $203.31 $55.26
  Average Loan Term 9.3 months 11.35 months

Journaling Performance on Kiva

    This Field Partner All Kiva Partners
  Total Journals 3,033 796,440
  Journaling Rate 61.24% 43.15%
  Average Number of Comments Per Journal 0.00 0.03
  Average Number of Recommendations Per Journal 0.00 0.80

Borrowing Cost Comparison (based on 2016 data)

    This Field Partner Median for MFI's in Country All Kiva Partners
  Average Cost to Borrower 46% PY 42.00% PY 25.24% PY
  Profitability (return on assets) 1.32% 0.9% -1.43%
  Average Loan Size (% of per capita income) N/A 142.00% 12.96%

Country Fast Facts

Field Partner Staff

Vero Randriamihaja
Julio Vahatriniaina