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.

Food insecurity, high rates of illiteracy, lack of essential services such as education and electricity, insecure land and water rights, and poor infrastructure all contribute to increased levels of poverty in the rural areas of Peru. In fact, in 2013, a resident born and residing in Lima could expect to live about 20 years longer than someone born in the southern highlands.

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 $3,218,125 $1,958,300,470
Amount of raised Inactive loans $0 $202,845
Number of raised Inactive loans 0 165
Amount of Paying Back Loans $194,975 $160,872,085
Number of Paying Back Loans 225 188,297
Amount of Ended Loans $3,023,150 $1,768,236,180
Number of Ended Loans 3,833 2,370,020
Delinquency Rate 5.53% 12.24%
Amount in Arrears $7,166 $12,206,242
Outstanding Portfolio $112,703 $99,725,561
Number of Loans Delinquent 32 72,811
Default Rate 0.61% 1.83%
Amount of Ended Loans Defaulted $18,398 $32,298,216
Number of Ended Loans Defaulted 36 84,743
Currency Exchange Loss Rate 0.03% 0.50%
Amount of Currency Exchange Loss $960 $11,931,838
Refund Rate 0.28% 0.54%
Amount of Refunded Loans $8,850 $10,526,300
Number of Refunded Loans 9 9,596

Loan Characteristics On Kiva

    This Lending Partner All Kiva Partners
  Loans to Women Borrowers 52.45% 78.22%
Average Loan Size $793 $392
Average Individual Loan Size $793 $589
Average Group Loan Size $0 $1,891
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 8.04 days 8.93 days
Average Dollars Raised Per Day Per Loan $98.69 $43.87
  Average Loan Term 13.27 months 11.47 months

Journaling Performance on Kiva

    This Lending Partner All Kiva Partners
  Total Journals 20 1,178,470
  Journaling Rate 0.37% 42.26%
  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% -3.10%
  Average Loan Size (% of per capita income) N/A 42.00% 0.00%

Country Fast Facts

Lending Partner Staff

Álvaro Natalio Mamani Surco