July 2020 - COVID-19 Update:

Kiva has been in contact with Smart Credit 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. This has caused many economies and businesses to grind to a halt. 

As a result, Smart Credit has allowed some of its borrowers to temporarily postpone loan repayments due to the aforementioned restrictions or fallout effects of the virus. Because of this, it is possible that lenders will see a delay in repayments over the coming months. As an impact-first funder, Kiva is committed to serving our Field Partners as in past crises. We are sympathetic towards temporary increases in repayment delays and delinquency in order to help Field Partners and borrower communities recover. 

Kiva is working closely with Smart Credit to support them and their borrowers through the COVID-19 crisis. Smart Credit is sending regular updates to Kiva, and we'll update Partner Pages as we learn more. 

On behalf of Kiva and Smart Credit, we’re grateful for your continued support and understanding through this difficult time. 

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 $2,050,450 $1,512,701,175
Amount of raised Inactive loans $0 $572,300
Number of raised Inactive loans 0 301
Amount of Paying Back Loans $855,275 $160,431,425
Number of Paying Back Loans 473 198,704
Amount of Ended Loans $1,195,175 $1,351,697,450
Number of Ended Loans 892 1,774,608
Delinquency Rate 0.66% 20.59%
Amount in Arrears $4,004 $21,162,513
Outstanding Portfolio $517,274 $102,768,914
Number of Loans Delinquent 33 98,003
Default Rate 0.73% 1.75%
Amount of Ended Loans Defaulted $8,775 $23,589,578
Number of Ended Loans Defaulted 6 58,753
Currency Exchange Loss Rate 0.00% 0.40%
Amount of Currency Exchange Loss $3,151 $6,348,424
Refund Rate 0.00% 0.62%
Amount of Refunded Loans $0 $9,364,100
Number of Refunded Loans 0 8,695

Loan Characteristics On Kiva

    This Field Partner All Kiva Partners
  Loans to Women Borrowers 52.46% 77.00%
Average Loan Size $1,502 $393
Average Individual Loan Size $1,502 $605
Average Group Loan Size $0 $1,776
Average number of borrowers per group 0 7.9
Average GDP per capita (PPP) in local country $3,800 $5,701
Average Loan Size / GDP per capita (PPP) 39.53% 6.89%
Average Time to Fund a Loan 10.96 days 7.84 days
Average Dollars Raised Per Day Per Loan $137.07 $50.08
  Average Loan Term 22.88 months 11.36 months

Journaling Performance on Kiva

    This Field Partner All Kiva Partners
  Total Journals 756 936,391
  Journaling Rate 69.78% 42.95%
  Average Number of Comments Per Journal 0.00 0.03
  Average Number of Recommendations Per Journal 0.00 0.69

Borrowing Cost Comparison (based on 2020 data)

    This Field Partner Median for MFI's in Country All Kiva Partners
  Average Cost to Borrower 31% APR 20.00% PY 28.14% PY
  Profitability (return on assets) 5.18% 1.6% -0.56%
  Average Loan Size (% of per capita income) N/A 89.00% 11.61%

Country Fast Facts

Field Partner Staff

Maria Braguta
Corina Ciomschi
Sergiu Cozmolici
Tatiana Pavlov