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 - June 9, 2019

Viogaz's final loans with Kiva have ended or defaulted, and this partnership is now closed. For the last 12 months, Kiva has been working with Viogaz to try to recover the remaining outstanding amounts due to Kiva lenders following the organization's shut down in Costa Rica. Kiva’s present assessment is that Viogaz has exhausted all efforts to recover any remaining outstanding payments; what was recovered was settled back to lenders and the rest defaulted. 

Status update — May 11, 2018

Since 2009, Viogaz worked hard making biodigesters accessible to small and medium scale livestock farmers. They managed to manufacture a great product and install hundreds of biodigesters regionally. Unfortunately, as a start up and social business, Viogaz faced several financial and operational challenges to make the business model sustainable. In December 2017, after 8 years in business, Viogaz took the hard decision to shut down its operations. With Kiva's support, Viogaz was able to fund the implementation of 21 biodigestors in Costa Rica & Nicaragua which have had a durable impact in the lives of smallholder farmers. Despite their closure, Viogaz will continue its efforts to recover outstanding payments and default loans that are unlikely to be repaid. We'll provide additional information to lenders as it becomes available.

Partner description:

Viogaz is a social enterprise that produces and distributes biodigesters designed to fit the needs of small to medium scale farmers in Costa Rica. Viogaz provides both the product and technical assistance to farmers.

Viogaz was set up to be self-sustaining and since it was founded in 2009 has operated without donations, growing in an organic way and seeing incremental profits.

Viogaz has established itself in the sector having installed more than 200 biodigesters in the country for clients who would normally not be able to access to this technology. About 90% of the projects installed by the company are still operating. Through  investing and innovating the technology, Viogaz has made the product more affordable, which has led to higher sales.

 

A unique lending approach:

Viogaz has developed a new loan exclusively with Kiva. Previously, farmers were offered partial funding for the product but to increase the opportunity for their clients, Viogaz has worked with Kiva to fully fund the product, as a loan. The loans will provide farmers with the funds to buy the biodigesters, installation, and any technical assistance needed.