Kiva conducts regular,ongoing monitoring of all Field Partners, but only posts status updates here in response to relevant, major changes at the partner.

Update 23 Apr 2017: Kiva and VisionSpring have agreed to end their partnership. This is due to the difficulties VisionSpring encountered in building up their local distribution partners which would be receiving the Kiva loans. VisionSpring has repaid to Kiva lenders what they were able to collect from borrowers and the remainder was defaulted. We thank VisionSpring for their years of collaboration and wish them success in their future endeavors. 

Update 8 Dec 2017:  Kiva has moved this Field Partner to inactive status. This means VisionSpring is no longer fundraising loans on Kiva, though Kiva fully expects the partner to continue to send repayments owed to Kiva lenders for as long as the partner has an outstanding balance. The reasons a partner might become inactive include: taking time to develop a new type of loan, turnover on the partner’s management team, a shift in overall strategy or changes in funding sources. If and when this partner requests to fundraise again on Kiva, Kiva will first conduct any additional monitoring and due diligence tasks we believe necessary.

Partner description:
VisionSpring is a nonprofit organization currently selling low-cost and high-quality eyeglasses around the world to those in need. With a business model that combines high volume and low margins, they can provides customers with affordable and durable glasses.
Operating under the belief that "if you can't see you can't work or learn,” VisionSpring’s initial innovation was creating a micro-franchise model. The organization trained local individuals to educate their communities about vision loss, conduct eye screenings, sell affordable non-prescription eyeglasses and provide referrals to VisionSpring's optical shops for prescription glasses, travelling from village to village. In an effort to further scale their model, VisionSpring developed a partnership program that incorporates local organizations as local partners. These partners assume all costs of the program and manage its development while VisionSpring provides access to eyeglasses and technical support. This model leverages existing distribution channels available to partners, allowing for the programs to generate greater impact and reach more people.
VisionSpring has continued developing their business model and joined Kiva to build a mechanism to support less experienced local partners, providing them with the technical and marketing expertise to succeed as local distributors.Thanks to its experience with established local partners (such as BRAC), VisionSpring has developed best practices on sales, marketing and distribution that they will actively share and help implement with local partners, increasing their reach and allowing for more communities in need to access eye-wear and care.

A unique lending approach:
VisionSpring’s loans on Kiva will enable more local partners to begin providing eye care and products. The model requires partners to make an upfront payment of the eyeglasses shipment price, which has been a key obstacle for smaller partners and limited the growth of the partnership model. VisionSpring loans funded through Kiva will help small local distribution partners that might lack a track record in selling eyeglasses but have the potential and infrastructure to do so.

Repayment Performance on Kiva

    This Field Partner All Kiva Partners
  Start Date On Kiva Jun 10, 2016 Oct 12, 2005
Total Loans $3,000 $1,627,444,320
Amount of raised Inactive loans $0 $1,836,800
Number of raised Inactive loans 0 3,270
Amount of Paying Back Loans $0 $167,774,300
Number of Paying Back Loans 0 199,528
Amount of Ended Loans $3,000 $1,457,833,220
Number of Ended Loans 1 1,929,716
Delinquency Rate 0.00% 16.67%
Amount in Arrears $0 $17,694,042
Outstanding Portfolio $0 $106,142,259
Number of Loans Delinquent 0 78,835
Default Rate 74.01% 1.72%
Amount of Ended Loans Defaulted $2,220 $25,118,364
Number of Ended Loans Defaulted 1 62,644
Currency Exchange Loss Rate 0.00% 0.41%
Amount of Currency Exchange Loss $0 $7,206,933
Refund Rate 0.00% 0.58%
Amount of Refunded Loans $0 $9,496,275
Number of Refunded Loans 0 8,857

Loan Characteristics On Kiva

    This Field Partner All Kiva Partners
  Loans to Women Borrowers 0.00% 77.46%
Average Loan Size $3,000 $390
Average Individual Loan Size $3,000 $601
Average Group Loan Size $0 $1,800
Average number of borrowers per group 0 8
Average GDP per capita (PPP) in local country $2,300 $5,665
Average Loan Size / GDP per capita (PPP) 130.43% 6.89%
Average Time to Fund a Loan 4.12 days 8.12 days
Average Dollars Raised Per Day Per Loan $727.84 $48.05
  Average Loan Term 10 months 11.36 months

Journaling Performance on Kiva

    This Field Partner All Kiva Partners
  Total Journals 3 986,043
  Journaling Rate 100.00% 42.07%
  Average Number of Comments Per Journal 0.00 0.03
  Average Number of Recommendations Per Journal 0.00 0.67

Borrowing Cost Comparison (based on 2016 data)

    This Field Partner Median for MFI's in Country All Kiva Partners
  Average Cost to Borrower 6% APR N/A 26.75% PY
  Profitability (return on assets) 8.9% N/A 0.10%
  Average Loan Size (% of per capita income) N/A N/A 11.50%

Country Fast Facts

Field Partner Staff