Kiva conducts regular, ongoing monitoring of all Lending Partners, but only posts status updates here in response to relevant, major changes at the partner.

Status Update - 6 July 2022:

SEED Center’s final loans with Kiva have ended in default and this partnership is now closed. For the past year, Kiva has been working with SEED Center to try to recover the remaining outstanding amounts due to Kiva lenders. Unfortunately, it has not been possible for SEED Center to overcome the significant financial and operational problems that began to surface in the middle of 2020. Kiva’s present assessment is that this Lending Partner is unable to make further payments, and thus the remaining $37,796.88. in outstanding amounts due to Kiva lenders has been defaulted. If Kiva is able to recover any additional funds from SEED Center in future, they will be applied to lenders’ accounts on a pro-rata basis.

Status Update - 19 March 2021:

Kiva has decided to pause SEED Center's access to fundraising loans on the Kiva platform. Due to on-going financial difficulties, SEED Center has been unable to repay Kiva since October 2020. Kiva is actively monitoring SEED Center's evolving financial situation and will continue to follow up with the partner in an effort to recover payments due. We'll provide additional relevant information to lenders as it becomes available.

Partner Description

SEED, founded in 2004, is a young microfinance organization in the Philippines that operates in the metro Manila area. In addition to loans, SEED provides saving services, business development classes and skills trainings. About 90% of SEED’s active borrowers are underprivileged poor living in depressed, urban areas. 

A unique lending approach:

Fundraising on Kiva will allow SEED expand to new areas and to scale new loan products. In addition to their traditional business loans, SEED will work to scale its 0% interest start-up loans, which include intensive business training for new entrepreneurs, and several other innovative loan products. 

Repayment Performance on Kiva

    This Lending Partner All Kiva Partners
  Start Date On Kiva Jun 10, 2014 Oct 12, 2005
Total Loans $885,975 $1,960,332,725
Amount of raised Inactive loans $0 $363,745
Number of raised Inactive loans 0 340
Amount of Paying Back Loans $0 $155,574,760
Number of Paying Back Loans 0 179,650
Amount of Ended Loans $885,975 $1,774,353,705
Number of Ended Loans 2,378 2,381,315
Delinquency Rate 0.00% 11.63%
Amount in Arrears $0 $10,909,601
Outstanding Portfolio $0 $93,825,344
Number of Loans Delinquent 0 45,861
Default Rate 4.31% 1.82%
Amount of Ended Loans Defaulted $38,205 $32,353,274
Number of Ended Loans Defaulted 256 84,927
Currency Exchange Loss Rate 0.00% 0.49%
Amount of Currency Exchange Loss $0 $12,023,352
Refund Rate 0.02% 0.54%
Amount of Refunded Loans $150 $10,526,300
Number of Refunded Loans 1 9,596

Loan Characteristics On Kiva

    This Lending Partner All Kiva Partners
  Loans to Women Borrowers 91.95% 78.24%
Average Loan Size $278 $392
Average Individual Loan Size $335 $589
Average Group Loan Size $683 $1,892
Average number of borrowers per group 4.2 8.3
Average GDP per capita (PPP) in local country $7,000 $5,599
Average Loan Size / GDP per capita (PPP) 3.98% 7.00%
Average Time to Fund a Loan 1.01 days 8.93 days
Average Dollars Raised Per Day Per Loan $275.55 $43.86
  Average Loan Term 5.18 months 11.47 months

Journaling Performance on Kiva

    This Lending Partner All Kiva Partners
  Total Journals 787 1,181,163
  Journaling Rate 32.51% 42.24%
  Average Number of Comments Per Journal 0.00 0.02
  Average Number of Recommendations Per Journal 0.00 0.57

Borrowing Cost Comparison (based on 2016 data)

    This Lending Partner Median for MFI's in Country All Kiva Partners
  Average Cost to Borrower 47% PY 46.00% PY 27.02% PY
  Profitability (return on assets) 12.1% 4.8% -3.10%
  Average Loan Size (% of per capita income) N/A 8.00% 0.00%

Country Fast Facts

Lending Partner Staff