Vasham
Approved to post Kiva loans from: Indonesia
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: July 6, 2018:
Kiva and Vasham have agreed to end their partnership after nearly three years and more than $190,000 in loans raised. Vasham is pursuing a new strategic direction and is no longer in need of Kiva funding. This partner has repaid its outstanding balance to Kiva in full, and these funds have been distributed to lenders. We thank Vasham for the years of collaboration and wish them success in their future endeavors.
Partner description:
Vasham is a social enterprise that seeks to provide smallholder farmers in Indonesia with the financing, expertise, and income security needed to achieve better standards of living.
As Indonesia’s middle class grows, demand for certain foods such as chicken is increasing and alongside this trend, the demand for maize is also increasing due to its use as animal feed in the poultry sector. Vasham offers low collateral loans that will help smallholder corn farmers grow their businesses, increase productivity, and guarantee them a fair price for their production.
A unique lending approach:
Kiva funding is used to support Vasham’s loans focused on providing farmers with the resources to plant and harvest maize.
Farmers can sell their entire maize production directly to Vasham's drying facilities, allowing them to bypass the many layers of agents and therefore guaranteeing them a better price. Vasham also commits to purchasing 100% of every harvest, regardless of quality, which provides an additional layer of financial security for farmers.
Vasham has a partnership with Japfa, one of the largest animal feed companies in Indonesia with a market share of 30%, which guarantees an end buyer for dried maize. Both organizations are heavily invested in by Handojo Santosa, an Indonesian businessman, but Vasham and Japfa do not share staff or profits.
Status Update: July 6, 2018:
Kiva and Vasham have agreed to end their partnership after nearly three years and more than $190,000 in loans raised. Vasham is pursuing a new strategic direction and is no longer in need of Kiva funding. This partner has repaid its outstanding balance to Kiva in full, and these funds have been distributed to lenders. We thank Vasham for the years of collaboration and wish them success in their future endeavors.
Partner description:
Vasham is a social enterprise that seeks to provide smallholder farmers in Indonesia with the financing, expertise, and income security needed to achieve better standards of living.
As Indonesia’s middle class grows, demand for certain foods such as chicken is increasing and alongside this trend, the demand for maize is also increasing due to its use as animal feed in the poultry sector. Vasham offers low collateral loans that will help smallholder corn farmers grow their businesses, increase productivity, and guarantee them a fair price for their production.
A unique lending approach:
Kiva funding is used to support Vasham’s loans focused on providing farmers with the resources to plant and harvest maize.
Farmers can sell their entire maize production directly to Vasham's drying facilities, allowing them to bypass the many layers of agents and therefore guaranteeing them a better price. Vasham also commits to purchasing 100% of every harvest, regardless of quality, which provides an additional layer of financial security for farmers.
Vasham has a partnership with Japfa, one of the largest animal feed companies in Indonesia with a market share of 30%, which guarantees an end buyer for dried maize. Both organizations are heavily invested in by Handojo Santosa, an Indonesian businessman, but Vasham and Japfa do not share staff or profits.
Repayment Performance on Kiva
| This Lending Partner | All Kiva Partners | ||
| Start Date On Kiva | Dec 15, 2015 | Oct 12, 2005 | |
|---|---|---|---|
| Total Loans | $191,150 | $1,963,391,405 | |
| Amount of raised Inactive loans | $0 | $623,050 | |
| Number of raised Inactive loans | 0 | 271 | |
| Amount of Paying Back Loans | $0 | $155,983,140 | |
| Number of Paying Back Loans | 0 | 182,346 | |
| Amount of Ended Loans | $191,150 | $1,776,188,995 | |
| Number of Ended Loans | 70 | 2,383,143 | |
| Delinquency Rate | 0.00% | 11.21% | |
| Amount in Arrears | $0 | $10,545,215 | |
| Outstanding Portfolio | $0 | $94,056,681 | |
| Number of Loans Delinquent | 0 | 43,938 | |
| Default Rate | 0.00% | 1.82% | |
| Amount of Ended Loans Defaulted | $0 | $32,352,693 | |
| Number of Ended Loans Defaulted | 0 | 84,927 | |
| Currency Exchange Loss Rate | 0.00% | 0.49% | |
| Amount of Currency Exchange Loss | $0 | $12,028,211 | |
| Refund Rate | 0.00% | 0.54% | |
| Amount of Refunded Loans | $0 | $10,528,825 | |
| Number of Refunded Loans | 0 | 9,602 |
Loan Characteristics On Kiva
| This Lending Partner | All Kiva Partners | ||
| Loans to Women Borrowers | 13.00% | 78.25% | |
|---|---|---|---|
| Average Loan Size | $590 | $392 | |
| Average Individual Loan Size | $333 | $589 | |
| Average Group Loan Size | $2,838 | $1,893 | |
| Average number of borrowers per group | 4.8 | 8.3 | |
| Average GDP per capita (PPP) in local country | $5,200 | $5,599 | |
| Average Loan Size / GDP per capita (PPP) | 11.35% | 7.00% | |
| Average Time to Fund a Loan | 14.8 days | 8.94 days | |
| Average Dollars Raised Per Day Per Loan | $39.88 | $43.84 | |
| Average Loan Term | 6.65 months | 11.47 months |
Journaling Performance on Kiva
| This Lending Partner | All Kiva Partners | ||
| Total Journals | 3 | 1,181,957 | |
|---|---|---|---|
| Journaling Rate | 4.29% | 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 2016 data)
| This Lending Partner | Median for MFI's in Country | All Kiva Partners | ||
| Average Cost to Borrower | 21% PY | 40.00% PY | 27.02% PY | |
|---|---|---|---|---|
| Profitability (return on assets) | 0.7% | 1.8% | -3.03% | |
| Average Loan Size (% of per capita income) | N/A | 23.00% | 0.00% |
Country Fast Facts
- Country:
- Indonesia
- Capital:
- Jakarta
- Official Language:
- Bahasa (official, modified form of Malay), English, Dutch
- Population:
- 253,609,643
- Avg Annual Income:
- $5,200
- Labor Force:
- agriculture: 38.9%, industry: 13.2%, services: 47.9%
- Population Below Poverty Line:
- 11.70%
- Literacy Rate:
- 92.80%
- Infant Mortality Rate (per 1000):
- 25.16 deaths
- Life Expectancy:
- 72.17 years