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.

Repayment Performance on Kiva

    This Lending Partner All Kiva Partners
  Start Date On Kiva Dec 15, 2015 Oct 12, 2005
Total Loans $191,150 $1,962,636,330
Amount of raised Inactive loans $0 $715,425
Number of raised Inactive loans 0 485
Amount of Paying Back Loans $0 $155,418,235
Number of Paying Back Loans 0 181,139
Amount of Ended Loans $191,150 $1,775,906,450
Number of Ended Loans 70 2,383,039
Delinquency Rate 0.00% 11.39%
Amount in Arrears $0 $10,640,926
Outstanding Portfolio $0 $93,458,977
Number of Loans Delinquent 0 44,447
Default Rate 0.00% 1.82%
Amount of Ended Loans Defaulted $0 $32,352,443
Number of Ended Loans Defaulted 0 84,926
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% 78.24%
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 $43.85
  Average Loan Term 6.65 months 11.47 months

Journaling Performance on Kiva

    This Lending Partner All Kiva Partners
  Total Journals 3 1,181,853
  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

Lending Partner Staff