Status update — August 21, 2019

After nearly 5 years and almost $200,000 raised, Kiva has decided to end our partnership with Kamworks in Cambodia.  We have concluded that due to borrower defaults and ineffective collection practices at the institutional level, on-going efforts to recover their outstanding funds would not be successful.  We have therefore written off the remaining outstanding balance of $34,571.22.

Please know that even when losses occur, your Kiva loans are still helping make a difference in the lives of borrowers around the globe, and your support gives people an opportunity to pursue better lives. We hope you'll continue to support other borrowers on Kiva.

Partner description:

Kamworks is a solar energy company based in Phnom Penh, Cambodia. The company provides affordable solar energy solutions to low-income and rural areas. Kamworks manufactures its products in Cambodia and distributes them throughout eight countries in South America, Africa and the Asia Pacific region.
 
Kamworks' target population is rural Cambodians who are typically excluded from national energy infrastructure. Kamworks focuses on bringing its products to two regions in Cambodia that have little or no electrical connection to the national power grid: Kampong Chhnang and Kratie. Households in these regions rely instead on car batteries and kerosene lighting, which are about ten times more expensive than connection to the national power grid. This makes solar energy a very beneficial option for rural residents of Kampong Chhnang and Kratie.
 
A unique lending approach:
 
Kamworks will use Kiva’s loans for the production and distribution of small solar home systems. Energy for the small solar home systems is generated by a solar panel, and the system can power a few lights, a radio, a black and white TV and charge mobile phones.
Kamworks will provide technical training to households upon installation. The company also offers three regular service visits and a 24-hour customer service hot-line.

Repayment Performance on Kiva

    This Field Partner All Kiva Partners
  Start Date On Kiva Sep 18, 2014 Oct 12, 2005
Total Loans $191,750 $1,403,476,400
Amount of raised Inactive loans $0 $939,700
Number of raised Inactive loans 0 356
Amount of Paying Back Loans $0 $149,763,650
Number of Paying Back Loans 0 193,645
Amount of Ended Loans $191,750 $1,252,773,050
Number of Ended Loans 300 1,620,556
Delinquency Rate 0.00% 21.87%
Amount in Arrears $0 $20,431,877
Outstanding Portfolio $0 $93,421,438
Number of Loans Delinquent 0 130,112
Default Rate 49.32% 1.76%
Amount of Ended Loans Defaulted $94,578 $22,041,481
Number of Ended Loans Defaulted 284 53,405
Currency Exchange Loss Rate 0.00% 0.39%
Amount of Currency Exchange Loss $0 $5,432,766
Refund Rate 0.00% 0.63%
Amount of Refunded Loans $0 $8,878,850
Number of Refunded Loans 0 8,379

Loan Characteristics On Kiva

    This Field Partner All Kiva Partners
  Loans to Women Borrowers 39.20% 76.47%
Average Loan Size $639 $393
Average Individual Loan Size $639 $609
Average Group Loan Size $0 $1,761
Average number of borrowers per group 0 7.8
Average GDP per capita (PPP) in local country $2,600 $5,749
Average Loan Size / GDP per capita (PPP) 24.58% 6.84%
Average Time to Fund a Loan 3.55 days 7.18 days
Average Dollars Raised Per Day Per Loan $179.96 $54.73
  Average Loan Term 25.23 months 11.38 months

Journaling Performance on Kiva

    This Field Partner All Kiva Partners
  Total Journals 96 865,518
  Journaling Rate 28.00% 43.37%
  Average Number of Comments Per Journal 0.00 0.03
  Average Number of Recommendations Per Journal 0.00 0.74

Borrowing Cost Comparison (based on 2017 data)

    This Field Partner Median for MFI's in Country All Kiva Partners
  Average Cost to Borrower 25% APR 30.00% PY 25.74% PY
  Profitability (return on assets) -11.1% 4.6% -1.78%
  Average Loan Size (% of per capita income) N/A 184.00% 12.55%

Country Fast Facts

Field Partner Staff

Arjen Luxwolda