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 $1,366,125 $1,388,904,475
Amount of raised Inactive loans $0 $168,075
Number of raised Inactive loans 0 71
Amount of Paying Back Loans $293,700 $149,011,425
Number of Paying Back Loans 1,252 195,825
Amount of Ended Loans $1,072,425 $1,239,724,975
Number of Ended Loans 3,949 1,602,792
Delinquency Rate 6.90% 12.43%
Amount in Arrears $15,109 $11,576,973
Outstanding Portfolio $183,035 $93,139,046
Number of Loans Delinquent 411 75,023
Default Rate 0.06% 1.75%
Amount of Ended Loans Defaulted $617 $21,702,685
Number of Ended Loans Defaulted 9 52,581
Currency Exchange Loss Rate 0.22% 0.38%
Amount of Currency Exchange Loss $2,981 $5,291,386
Refund Rate 0.08% 0.59%
Amount of Refunded Loans $1,100 $8,230,675
Number of Refunded Loans 3 8,220

Loan Characteristics On Kiva

    This Field Partner All Kiva Partners
  Loans to Women Borrowers 68.26% 76.51%
Average Loan Size $263 $392
Average Individual Loan Size $263 $608
Average Group Loan Size $0 $1,757
Average number of borrowers per group 0 7.8
Average GDP per capita (PPP) in local country $1,000 $5,757
Average Loan Size / GDP per capita (PPP) 26.27% 6.81%
Average Time to Fund a Loan 1.3 days 7.14 days
Average Dollars Raised Per Day Per Loan $202.46 $54.94
  Average Loan Term 9.25 months 11.37 months

Journaling Performance on Kiva

    This Field Partner All Kiva Partners
  Total Journals 3,295 846,808
  Journaling Rate 64.34% 43.40%
  Average Number of Comments Per Journal 0.00 0.03
  Average Number of Recommendations Per Journal 0.00 0.76

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 26.14% PY
  Profitability (return on assets) 1.32% 0.9% -2.30%
  Average Loan Size (% of per capita income) N/A 142.00% 12.52%

Country Fast Facts

Field Partner Staff

Vero Randriamihaja
Julio Vahatriniaina