Soluz Honduras is a social and environmental enterprise committed to increasing energy access for Hondurans using solar technology. By distributing solar products and related financing to provide affordable clean electricity, Soluz Honduras contributes to economic development while protecting the environment.
 
Established in 1994, Soluz Honduras is a pioneer in solar rural electrification and has provided solar electric systems and related financing to tens of thousands of rural households, enterprises, and community facilities (schools, clinics, and community centers).
 
A unique lending approach:
 
Honduras has one of the lowest rural electrification rates in Latin America after Nicaragua, with about 50 percent of the rural population still lacking access to electricity. Soluz Honduras provides loans for the following borrowers:
 
·      Individual households or businesses for the purchase of solar products tailored for their needs and budget.
·      Micro-entrepreneurs to finance solar product inventory to help them build their own solar product distribution businesses.
 
Kiva funding will help Soluz Honduras expand its credit program to serve deeper into the base of the economic pyramid and to open up new markets for solar products that serve the poor. 

Repayment Performance on Kiva

    This Field Partner All Kiva Partners
  Start Date On Kiva Jun 21, 2014 Oct 12, 2005
Total Loans $222,975 $937,965,025
Amount of raised Inactive loans $0 $498,200
Number of raised Inactive loans 0 431
Amount of Paying Back Loans $76,925 $143,328,850
Number of Paying Back Loans 86 175,425
Amount of Ended Loans $146,050 $794,137,975
Number of Ended Loans 227 994,902
Delinquency Rate 3.20% 7.93%
Amount in Arrears $1,226 $7,433,246
Outstanding Portfolio $38,339 $93,783,450
Number of Loans Delinquent 15 19,274
Default Rate 0.12% 1.40%
Amount of Ended Loans Defaulted $180 $11,137,050
Number of Ended Loans Defaulted 1 31,506
Currency Exchange Loss Rate 0.09% 0.46%
Amount of Currency Exchange Loss $199 $4,278,396
Refund Rate 0.00% 0.63%
Amount of Refunded Loans $0 $5,887,300
Number of Refunded Loans 0 5,924

Loan Characteristics On Kiva

    This Field Partner All Kiva Partners
  Loans to Women Borrowers 28.03% 75.18%
Average Loan Size $712 $401
Average Individual Loan Size $712 $634
Average Group Loan Size $0 $1,772
Average number of borrowers per group 0 7.8
Average GDP per capita (PPP) in local country $4,800 $5,898
Average Loan Size / GDP per capita (PPP) 14.84% 6.80%
Average Time to Fund a Loan 4.04 days 6.93 days
Average Dollars Raised Per Day Per Loan $176.18 $57.86
  Average Loan Term 11.36 months 11.1 months

Journaling Performance on Kiva

    This Field Partner All Kiva Partners
  Total Journals 268 486,610
  Journaling Rate 100.00% 41.50%
  Average Number of Comments Per Journal 0.00 0.05
  Average Number of Recommendations Per Journal 0.00 1.20

Borrowing Cost Comparison (based on 2015 data)

    This Field Partner Median for MFI's in Country All Kiva Partners
  Average Cost to Borrower 18% APR 36.00% PY 26.04% PY
  Profitability (return on assets) 0.1% 2.2% -0.31%
  Average Loan Size (% of per capita income) N/A 41.00% 17.73%

Country Fast Facts

Field Partner Staff

Andrés Carbajal
Isabel Chavez
Alejandro Lobo