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 $231,250 $962,767,275
Amount of raised Inactive loans $18,975 $495,400
Number of raised Inactive loans 7 261
Amount of Paying Back Loans $191,925 $145,653,675
Number of Paying Back Loans 71 180,972
Amount of Ended Loans $20,350 $816,618,200
Number of Ended Loans 8 1,025,539
Delinquency Rate 0.00% 8.04%
Amount in Arrears $0 $7,692,220
Outstanding Portfolio $143,151 $95,673,582
Number of Loans Delinquent 0 19,651
Default Rate 0.00% 1.40%
Amount of Ended Loans Defaulted $0 $11,450,847
Number of Ended Loans Defaulted 0 32,890
Currency Exchange Loss Rate 0.84% 0.46%
Amount of Currency Exchange Loss $1,937 $4,395,675
Refund Rate 2.61% 0.62%
Amount of Refunded Loans $6,025 $5,946,325
Number of Refunded Loans 2 5,964

Loan Characteristics On Kiva

    This Field Partner All Kiva Partners
  Loans to Women Borrowers 51.58% 75.32%
Average Loan Size $2,696 $399
Average Individual Loan Size $2,696 $631
Average Group Loan Size $0 $1,760
Average number of borrowers per group 0 7.7
Average GDP per capita (PPP) in local country $3,800 $5,881
Average Loan Size / GDP per capita (PPP) 70.96% 6.79%
Average Time to Fund a Loan 9.53 days 6.92 days
Average Dollars Raised Per Day Per Loan $283.04 $57.70
  Average Loan Term 32.62 months 11.11 months

Journaling Performance on Kiva

    This Field Partner All Kiva Partners
  Total Journals 7 501,690
  Journaling Rate 75.00% 41.45%
  Average Number of Comments Per Journal 0.00 0.05
  Average Number of Recommendations Per Journal 0.00 1.17

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 20.00% PY 26.14% PY
  Profitability (return on assets) 6.7% 1.6% -1.25%
  Average Loan Size (% of per capita income) N/A 89.00% 16.85%

Country Fast Facts

Field Partner Staff

Liviu Avricenco
Ion Bajerean
Adam Lawrence
Eduard Lungu
Heidi Parker