Smart Credit
Partner description:
Smart Credit is a small microfinance organization with headquarters in Ungheni City that serves the rural population in the Ungheni region of Moldova. They seek to provide affordable loans to these populations and also act as an insurance agent for health, auto and accident insurance.
Almost 17 percent of the population in Moldova lives below the national poverty line. Due to devaluation of the Moldovan Leu, local financing is increasingly expensive, so Kiva funding helps Smart Credit provide more affordable loans to rural populations.
A unique lending approach:
Smart Credit offers loans that encompasss a wide variety of industries and purposes including new businesses, consumer goods, agricultural resources and home improvement. These loans allow both growth in income-generating activities, as well as improvement to living conditions.
Repayment Performance on Kiva
| This Field Partner | All Kiva Partners | ||
| Start Date On Kiva | Jul 7, 2015 | Oct 12, 2005 | |
|---|---|---|---|
| Total Loans | $1,087,825 | $1,342,243,800 | |
| Amount of raised Inactive loans | $0 | $1,129,300 | |
| Number of raised Inactive loans | 0 | 1,461 | |
| Amount of Paying Back Loans | $449,475 | $147,423,550 | |
| Number of Paying Back Loans | 375 | 194,726 | |
| Amount of Ended Loans | $638,350 | $1,193,690,950 | |
| Number of Ended Loans | 410 | 1,537,959 | |
| Delinquency Rate | 0.56% | 10.51% | |
| Amount in Arrears | $1,542 | $9,735,701 | |
| Outstanding Portfolio | $224,264 | $92,639,883 | |
| Number of Loans Delinquent | 6 | 57,667 | |
| Default Rate | 1.62% | 1.76% | |
| Amount of Ended Loans Defaulted | $10,332 | $21,037,796 | |
| Number of Ended Loans Defaulted | 7 | 51,424 | |
| Currency Exchange Loss Rate | 0.00% | 0.39% | |
| Amount of Currency Exchange Loss | $2 | $5,195,382 | |
| Refund Rate | 0.00% | 0.59% | |
| Amount of Refunded Loans | $0 | $7,939,025 | |
| Number of Refunded Loans | 0 | 7,847 |
Loan Characteristics On Kiva
| This Field Partner | All Kiva Partners | ||
| Loans to Women Borrowers | 53.35% | 76.42% | |
|---|---|---|---|
| Average Loan Size | $1,386 | $394 | |
| Average Individual Loan Size | $1,386 | $609 | |
| Average Group Loan Size | $0 | $1,762 | |
| Average number of borrowers per group | 0 | 7.7 | |
| Average GDP per capita (PPP) in local country | $3,800 | $5,773 | |
| Average Loan Size / GDP per capita (PPP) | 36.47% | 6.82% | |
| Average Time to Fund a Loan | 9.42 days | 7.13 days | |
| Average Dollars Raised Per Day Per Loan | $147.14 | $55.26 | |
| Average Loan Term | 22.27 months | 11.35 months |
Journaling Performance on Kiva
| This Field Partner | All Kiva Partners | ||
| Total Journals | 524 | 796,440 | |
|---|---|---|---|
| Journaling Rate | 94.48% | 43.15% | |
| Average Number of Comments Per Journal | 0.00 | 0.03 | |
| Average Number of Recommendations Per Journal | 0.00 | 0.80 |
Borrowing Cost Comparison (based on 2017 data)
| This Field Partner | Median for MFI's in Country | All Kiva Partners | ||
| Average Cost to Borrower | 31% APR | 20.00% PY | 25.24% PY | |
|---|---|---|---|---|
| Profitability (return on assets) | 7.32% | 1.6% | -1.43% | |
| Average Loan Size (% of per capita income) | N/A | 89.00% | 12.96% |
Country Fast Facts
- Country:
- Moldova
- Capital:
- Chisinau
- Official Language:
- Moldovan 58.8% (official), Romanian 16.4%, Russian 16%
- Population:
- 3,583,288
- Avg Annual Income:
- $3,800
- Labor Force:
- agriculture: 26.4%, industry: 13.2%, services: 60.4%
- Population Below Poverty Line:
- 21.90%
- Literacy Rate:
- 99%
- Infant Mortality Rate (per 1000):
- 12.93 deaths
- Life Expectancy:
- 70.12 years
Field Partner Staff
Maria BragutaCorina Ciomschi
Sergiu Cozmolici
Tatiana Pavlov