July 2020 - COVID-19 Update:

Kiva has been in contact with Priminvestnord to understand how we can best support their business and borrowers during the ever-evolving COVID-19 pandemic. We continue to prioritize the safety and well-being of all staff, borrowers and their families as this global pandemic continues.

While country-specific responses to the crisis vary, most governments have imposed curfews, travel restrictions, and nation-wide shutdowns. This has caused many economies and businesses to grind to a halt. 

As a result, Priminvestnord has allowed some of its borrowers to temporarily postpone loan repayments due to the aforementioned restrictions or fallout effects of the virus. Because of this, it is possible that lenders will see a delay in repayments over the coming months. As an impact-first funder, Kiva is committed to serving our Field Partners as in past crises. We are sympathetic towards temporary increases in repayment delays and delinquency in order to help Field Partners and borrower communities recover. 

Kiva is working closely with Priminvestnord to support them and their borrowers through the COVID-19 crisis. Priminvestnord is sending regular updates to Kiva, and we'll update Partner Pages as we learn more. 

On behalf of Kiva and Priminvestnord, we’re grateful for your continued support and understanding through this difficult time. 

Partner description:

Priminvestnord is a small, non-bank financial institution
located in Soroca, Moldova. About 42% of the rural population of Moldova is living in poverty, compared with 14% in cities. The higher rate of poverty in rural areas is associated with lack of access to housing, infrastructure, public utilities and financial services.
Priminvestnord aims to reduce the problem of poverty in Moldova by providing loans for agricultural and rural business development. They offer loans to people who suffer from low wages and limited job opportunities and who cannot get a loan from commercial banks. PrimInvestNord clients are not served by any other institution in Moldova.

There is a high demand for Priminvestnord’s loans, but a lack of financing. Kiva funding allows Priminvestnord to increase the variety and supply of its loans and offer lower interest rates to borrowers.
A Unique Lending Approach:
PrimInvestNord loans funded on Kiva are for clients who wish to start or develop a lucrative business in the rural areas of Moldova. Priminvestnord offers business loans to entrepreneurs that show not just how they will launch or develop a business, but how they will pay back the loan.
Entrepreneurs use the loans for capacity-building, construction, materials and inventory, along with other needs they have when launching their businesses.   

Repayment Performance on Kiva

    This Field Partner All Kiva Partners
  Start Date On Kiva Sep 23, 2014 Oct 12, 2005
Total Loans $1,165,325 $1,540,983,845
Amount of raised Inactive loans $21,200 $441,200
Number of raised Inactive loans 5 211
Amount of Paying Back Loans $632,975 $158,174,920
Number of Paying Back Loans 216 192,098
Amount of Ended Loans $511,150 $1,382,367,725
Number of Ended Loans 210 1,821,275
Delinquency Rate 1.88% 17.86%
Amount in Arrears $7,065 $17,532,169
Outstanding Portfolio $374,596 $98,185,245
Number of Loans Delinquent 24 58,988
Default Rate 0.00% 1.71%
Amount of Ended Loans Defaulted $0 $23,626,635
Number of Ended Loans Defaulted 0 58,907
Currency Exchange Loss Rate 0.22% 0.40%
Amount of Currency Exchange Loss $3,394 $6,566,253
Refund Rate 0.91% 0.61%
Amount of Refunded Loans $10,625 $9,393,625
Number of Refunded Loans 4 8,726

Loan Characteristics On Kiva

    This Field Partner All Kiva Partners
  Loans to Women Borrowers 66.81% 77.16%
Average Loan Size $2,703 $391
Average Individual Loan Size $2,703 $604
Average Group Loan Size $0 $1,778
Average number of borrowers per group 0 7.9
Average GDP per capita (PPP) in local country $3,800 $5,692
Average Loan Size / GDP per capita (PPP) 71.14% 6.87%
Average Time to Fund a Loan 10.32 days 7.92 days
Average Dollars Raised Per Day Per Loan $261.84 $49.38
  Average Loan Term 31.66 months 11.35 months

Journaling Performance on Kiva

    This Field Partner All Kiva Partners
  Total Journals 157 947,481
  Journaling Rate 73.26% 42.77%
  Average Number of Comments Per Journal 0.00 0.03
  Average Number of Recommendations Per Journal 0.00 0.69

Borrowing Cost Comparison (based on 2017 data)

    This Field Partner Median for MFI's in Country All Kiva Partners
  Average Cost to Borrower 18% APR 20.00% PY 25.83% PY
  Profitability (return on assets) 7.6% 1.6% -1.09%
  Average Loan Size (% of per capita income) N/A 89.00% 11.51%

Country Fast Facts

Field Partner Staff

Tatiana Antoci
Liviu Avricenco
Ion Bajerean
Olga Popovschi