Fondesurco
Kiva conducts regular, ongoing monitoring of all Lending Partners, but only posts status updates here in response to relevant, major changes at the partner.
June 9, 2020 - COVID-19 Update:
Kiva has been in contact with Fondesurco 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. Peru has imposed temporary moratoriums on loan payments, affecting not only microfinance, but the economy as a whole.
As a result, borrowers and Fondesurco may experience difficulty making and collecting loan repayments due to the aforementioned restrictions or fallout effects of the virus. Over the coming months, it’s possible that lenders will see a delay in repayments and new loans posted by Fondesurco. As an impact-first funder, Kiva is committed to serving our Lending Partners, as in past crises. We are sympathetic to temporary increases in repayment delays and delinquency in order to help Lending Partners and borrower communities recover.
Kiva is working closely with Fondesurco to support them and their borrowers through the COVID-19 crisis. Fondesurco is sending regular updates to Kiva, and we'll update Partner Pages as we learn more.
On behalf of Kiva and Fondesurco, we’re grateful for your continued support through this difficult time.
Partner Description:
Fondesurco is a non-governmental organization that works closely with clients in the rural regions of Arequipa, Moquegua and Ayacucho in Peru. Along with prioritizing rural communities, the organization has a strong commitment to environmental sustainability and conservation.
A unique lending approach:
Fondesurco will offer green loans to rural communities in Peru with Kiva lenders’ support. In addition to the green requirement, to qualify for a Kiva loan, borrowers must be living below the Peruvian national poverty line standard. This ensures that lender funds are reaching a population that is truly limited in regards to financial access.
Repayment Performance on Kiva
| This Lending Partner | All Kiva Partners | ||
| Start Date On Kiva | Dec 10, 2014 | Oct 12, 2005 | |
|---|---|---|---|
| Total Loans | $3,224,725 | $1,962,636,330 | |
| Amount of raised Inactive loans | $0 | $715,425 | |
| Number of raised Inactive loans | 0 | 485 | |
| Amount of Paying Back Loans | $188,025 | $155,418,235 | |
| Number of Paying Back Loans | 215 | 181,139 | |
| Amount of Ended Loans | $3,036,700 | $1,775,906,450 | |
| Number of Ended Loans | 3,852 | 2,383,039 | |
| Delinquency Rate | 5.41% | 11.39% | |
| Amount in Arrears | $6,586 | $10,640,926 | |
| Outstanding Portfolio | $113,044 | $93,458,977 | |
| Number of Loans Delinquent | 23 | 44,447 | |
| Default Rate | 0.61% | 1.82% | |
| Amount of Ended Loans Defaulted | $18,398 | $32,352,443 | |
| Number of Ended Loans Defaulted | 36 | 84,926 | |
| Currency Exchange Loss Rate | 0.03% | 0.49% | |
| Amount of Currency Exchange Loss | $960 | $12,028,211 | |
| Refund Rate | 0.27% | 0.54% | |
| Amount of Refunded Loans | $8,850 | $10,528,825 | |
| Number of Refunded Loans | 9 | 9,602 |
Loan Characteristics On Kiva
| This Lending Partner | All Kiva Partners | ||
| Loans to Women Borrowers | 52.46% | 78.24% | |
|---|---|---|---|
| Average Loan Size | $793 | $392 | |
| Average Individual Loan Size | $793 | $589 | |
| Average Group Loan Size | $0 | $1,893 | |
| Average number of borrowers per group | 0 | 8.3 | |
| Average GDP per capita (PPP) in local country | $12,000 | $5,599 | |
| Average Loan Size / GDP per capita (PPP) | 6.61% | 7.00% | |
| Average Time to Fund a Loan | 8.05 days | 8.94 days | |
| Average Dollars Raised Per Day Per Loan | $98.55 | $43.85 | |
| Average Loan Term | 13.27 months | 11.47 months |
Journaling Performance on Kiva
| This Lending Partner | All Kiva Partners | ||
| Total Journals | 21 | 1,181,853 | |
|---|---|---|---|
| Journaling Rate | 0.39% | 42.25% | |
| 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 2017 data)
| This Lending Partner | Median for MFI's in Country | All Kiva Partners | ||
| Average Cost to Borrower | 32% PY | 29.00% PY | 27.02% PY | |
|---|---|---|---|---|
| Profitability (return on assets) | -0.43% | 1.4% | -3.03% | |
| Average Loan Size (% of per capita income) | N/A | 42.00% | 0.00% |
Country Fast Facts
- Country:
- Peru
- Capital:
- Lima
- Official Language:
- Spanish (official) 84.1%, Quechua (official) 13%, Aymara (official) 1.7%, Ashaninka 0.3%, other native languages 0.7%, other 0.2%
- Population:
- 30,147,935
- Avg Annual Income:
- $12,000
- Labor Force:
- agriculture: 25.8%, industry: 17.4%, services: 56.8%
- Population Below Poverty Line:
- 23.90%
- Literacy Rate:
- 94.50%
- Infant Mortality Rate (per 1000):
- 20.21 deaths
- Life Expectancy:
- 68.39 years