SPIRE Education
Kiva conducts regular, ongoing monitoring of all Lending Partners, but only posts status updates here in response to relevant, major changes at the partner.
Status update — August 16, 2017
Kiva and SPIRE have agreed to end their partnership after more than 2 years and more than $17k in loans raised. This Lending Partner has repaid its outstanding balance to Kiva in full, and these funds have been distributed to lenders. We thank SPIRE for the years of collaboration and wish them success in their future endeavors.
Status update – August 11, 2015
Kiva has moved this Lending Partner to inactive status. This means that SPIRE is no longer fundraising loans on Kiva, though Kiva fully expects the partner to continue to send repayments owed to Kiva lenders for as long as the partner has an outstanding balance. This partner is currently inactive because they are focusing on a new strategy and taking time to develop a new type of loan. If and when this partner requests to fundraise again on Kiva, Kiva will first conduct any additional monitoring and due diligence tasks we believe necessary.
Partner description:
In Kenya, unemployment among new university graduates is about 40%. Spire was founded as a social enterprise to address this issue and help graduates obtain jobs. One of the ways the organization does this is an education-to-employment course called the Career Accelerator program.
A unique lending approach:
Education loans will help eligible students to finance and participate in the career accelerator program. Applicants are selected using a combination of aptitude testing, in-person interviews and academic grades. Loans cover tuition fees as well as administrative/operational costs.
Repayment Performance on Kiva
This Lending Partner | All Kiva Partners | ||
Start Date On Kiva | Mar 12, 2015 | Oct 12, 2005 | |
---|---|---|---|
Total Loans | $17,050 | $2,056,436,760 | |
Amount of raised Inactive loans | $0 | $246,055 | |
Number of raised Inactive loans | 0 | 235 | |
Amount of Paying Back Loans | $0 | $158,330,245 | |
Number of Paying Back Loans | 0 | 188,292 | |
Amount of Ended Loans | $17,050 | $1,854,343,460 | |
Number of Ended Loans | 46 | 2,501,455 | |
Delinquency Rate | 0.00% | 12.18% | |
Amount in Arrears | $0 | $11,905,982 | |
Outstanding Portfolio | $0 | $97,730,170 | |
Number of Loans Delinquent | 0 | 63,551 | |
Default Rate | 54.08% | 1.84% | |
Amount of Ended Loans Defaulted | $9,220 | $34,038,827 | |
Number of Ended Loans Defaulted | 45 | 91,258 | |
Currency Exchange Loss Rate | 0.15% | 0.47% | |
Amount of Currency Exchange Loss | $26 | $12,742,203 | |
Refund Rate | 0.00% | 0.55% | |
Amount of Refunded Loans | $0 | $11,261,520 | |
Number of Refunded Loans | 0 | 9,866 |
Loan Characteristics On Kiva
This Lending Partner | All Kiva Partners | ||
Loans to Women Borrowers | 47.83% | 78.49% | |
---|---|---|---|
Average Loan Size | $371 | $393 | |
Average Individual Loan Size | $371 | $585 | |
Average Group Loan Size | $0 | $1,913 | |
Average number of borrowers per group | 0 | 8.3 | |
Average GDP per capita (PPP) in local country | $1,800 | $5,592 | |
Average Loan Size / GDP per capita (PPP) | 20.59% | 7.03% | |
Average Time to Fund a Loan | 1.22 days | 9.13 days | |
Average Dollars Raised Per Day Per Loan | $304.46 | $43.04 | |
Average Loan Term | 11 months | 11.5 months |
Journaling Performance on Kiva
This Lending Partner | All Kiva Partners | ||
Total Journals | 0 | 1,225,264 | |
---|---|---|---|
Journaling Rate | 0.00% | 41.91% | |
Average Number of Comments Per Journal | 0.00 | 0.02 | |
Average Number of Recommendations Per Journal | 0.00 | 0.55 |
Borrowing Cost Comparison (based on 2014 data)
This Lending Partner | Median for MFI's in Country | All Kiva Partners | ||
Average Cost to Borrower | 0% APR | 36.00% PY | 26.61% PY | |
---|---|---|---|---|
Profitability (return on assets) | N/A | 0.5% | -1.32% | |
Average Loan Size (% of per capita income) | N/A | 56.00% | 0.00% |
Country Fast Facts
- Country:
- Kenya
- Capital:
- Nairobi
- Official Language:
- English (official), Kiswahili (official)
- Population:
- 45,010,056
- Avg Annual Income:
- $1,800
- Labor Force:
- agriculture: 75%, industry and services: 25%
- Population Below Poverty Line:
- 43.40%
- Literacy Rate:
- 87.40%
- Infant Mortality Rate (per 1000):
- 40.71 deaths
- Life Expectancy:
- 63.52 years