ACCIONA Microenergía México
Approved to post Kiva loans from: Mexico
Status update — August 18, 2017
Kiva and Acciona Microenergía México have agreed to end their partnership after over 3 years and $77,550 in loans raised. This is due to the fact that it is operationally too intensive and costly for AMM to run a credit program. This Lending Partner has repaid its outstanding balance to Kiva in full, and these funds have been distributed to lenders. We thank Acciona Microenergía México for the years of collaboration and wish them success in their future endeavors.
Partner description:
ACCIONA Microenergia Mexico (AMM) is a non-profit organization founded by Fundacion ACCIONA Microenergia (FUNDAME), which is its reference partner. FUNDAME is the corporate foundation of one of the leading Spanish companies in the renewable energies and infrastructure sector.
FUNDAME, established in 2008, operates through AMM to provide basic services such as energy, water, and infrastructure in a sustainable way to isolated communities living in rural areas of Mexico.
A unique lending approach:
AMM offers quality solar systems to isolated communities in Mexico, and provides them with the electricity they need in order to light their homes. Funding of loans on Kiva allows AMM to buy solar systems for low-income households in those communities. Each community will pay a monthly maintenance fee that will allow AMM to pay back the loan. There is 0% interest on that 12-month loan. Photovoltaic systems permit families to have four hours of quality light per day, and eliminate the danger of using kerosene lamps. With Kiva’s support, AMM will be able to reach more isolated communities and provide them with electricity.
Kiva and Acciona Microenergía México have agreed to end their partnership after over 3 years and $77,550 in loans raised. This is due to the fact that it is operationally too intensive and costly for AMM to run a credit program. This Lending Partner has repaid its outstanding balance to Kiva in full, and these funds have been distributed to lenders. We thank Acciona Microenergía México for the years of collaboration and wish them success in their future endeavors.
Partner description:
ACCIONA Microenergia Mexico (AMM) is a non-profit organization founded by Fundacion ACCIONA Microenergia (FUNDAME), which is its reference partner. FUNDAME is the corporate foundation of one of the leading Spanish companies in the renewable energies and infrastructure sector.
FUNDAME, established in 2008, operates through AMM to provide basic services such as energy, water, and infrastructure in a sustainable way to isolated communities living in rural areas of Mexico.
A unique lending approach:
AMM offers quality solar systems to isolated communities in Mexico, and provides them with the electricity they need in order to light their homes. Funding of loans on Kiva allows AMM to buy solar systems for low-income households in those communities. Each community will pay a monthly maintenance fee that will allow AMM to pay back the loan. There is 0% interest on that 12-month loan. Photovoltaic systems permit families to have four hours of quality light per day, and eliminate the danger of using kerosene lamps. With Kiva’s support, AMM will be able to reach more isolated communities and provide them with electricity.
Repayment Performance on Kiva
This Lending Partner | All Kiva Partners | ||
Start Date On Kiva | May 9, 2014 | Oct 12, 2005 | |
---|---|---|---|
Total Loans | $77,550 | $2,055,660,225 | |
Amount of raised Inactive loans | $0 | $243,660 | |
Number of raised Inactive loans | 0 | 229 | |
Amount of Paying Back Loans | $0 | $157,583,105 | |
Number of Paying Back Loans | 0 | 187,387 | |
Amount of Ended Loans | $77,550 | $1,854,316,460 | |
Number of Ended Loans | 156 | 2,501,443 | |
Delinquency Rate | 0.00% | 12.34% | |
Amount in Arrears | $0 | $11,972,422 | |
Outstanding Portfolio | $0 | $97,022,683 | |
Number of Loans Delinquent | 0 | 63,564 | |
Default Rate | 0.00% | 1.84% | |
Amount of Ended Loans Defaulted | $0 | $34,032,174 | |
Number of Ended Loans Defaulted | 0 | 91,246 | |
Currency Exchange Loss Rate | 3.12% | 0.47% | |
Amount of Currency Exchange Loss | $2,421 | $12,742,203 | |
Refund Rate | 7.96% | 0.55% | |
Amount of Refunded Loans | $6,175 | $11,261,520 | |
Number of Refunded Loans | 5 | 9,866 |
Loan Characteristics On Kiva
This Lending Partner | All Kiva Partners | ||
Loans to Women Borrowers | 15.43% | 78.49% | |
---|---|---|---|
Average Loan Size | $103 | $393 | |
Average Individual Loan Size | $92 | $585 | |
Average Group Loan Size | $1,105 | $1,913 | |
Average number of borrowers per group | 10.6 | 8.3 | |
Average GDP per capita (PPP) in local country | $15,600 | $5,591 | |
Average Loan Size / GDP per capita (PPP) | 0.66% | 7.03% | |
Average Time to Fund a Loan | 2.42 days | 9.13 days | |
Average Dollars Raised Per Day Per Loan | $42.53 | $43.05 | |
Average Loan Term | 9.12 months | 11.5 months |
Journaling Performance on Kiva
This Lending Partner | All Kiva Partners | ||
Total Journals | 158 | 1,224,621 | |
---|---|---|---|
Journaling Rate | 100.00% | 41.92% | |
Average Number of Comments Per Journal | 0.00 | 0.02 | |
Average Number of Recommendations Per Journal | 0.00 | 0.55 |
Borrowing Cost Comparison (based on 2015 data)
This Lending Partner | Median for MFI's in Country | All Kiva Partners | ||
Average Cost to Borrower | 13% APR | 74.00% PY | 26.61% PY | |
---|---|---|---|---|
Profitability (return on assets) | -11.3% | 1% | -1.37% | |
Average Loan Size (% of per capita income) | N/A | 4.00% | 0.00% |
Country Fast Facts
- Country:
- Mexico
- Capital:
- Mexico City
- Official Language:
- Spanish 92.7%, other indigenous languages 5.7%
- Population:
- 120,286,655
- Avg Annual Income:
- $15,600
- Labor Force:
- agriculture: 13.4%, industry: 24.1%, services: 61.9%
- Population Below Poverty Line:
- 52.30%
- Literacy Rate:
- 93.50%
- Infant Mortality Rate (per 1000):
- 12.58 deaths
- Life Expectancy:
- 75.43 years