Kiva conducts regular, ongoing monitoring of all Field Partners, but only posts status updates here in response to relevant, major changes at the partner. June 9, 2020 - COVID-19 Update: Kiva has been in contact with COOPAC Norandino 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. Peru has imposed temporary moratoriums on loan payments, affecting not only microfinance, but the economy as a whole." As a result, borrowers and COOPAC Norandino may experience difficulty making and collecting loan repayments due to the aforementioned restrictions or fallout effects of the virus. Over the coming months, it?s possible that lenders will see a delay in repayments and new loans posted by COOPAC Norandino. As an impact-first funder, Kiva is committed to serving our Field Partners, as in past crises. We are sympathetic to temporary increases in repayment delays and delinquency in order to help Field Partners and borrower communities recover." Kiva is working closely with COOPAC Norandino to support them and their borrowers through the COVID-19 crisis. COOPAC Norandino is sending regular updates to Kiva, and we'll update Partner Pages as we learn more." On behalf of Kiva and COOPAC Norandino, we?re grateful for your continued support through this difficult time." Partner description: Cooperativa de Ahorro y Cr"dito Norandino Ltda (COOPAC Norandino) is a rural savings and credit cooperative, established in 2005 to support smallholder, FairTrade and organic-certified small-holder farmers in the highlands of Peru who have limited financial resources and market access. While the majority of COOPAC Norandino?s portfolio is concentrated in coffee, the cooperative is also active in sugar cane, cacao, bananas and mangos. The organizations?s strategic alliances with local agriculture cooperatives allows farmers to access price premiums, agricultural trainings, and export to international markets. COOPAC Norandino?s team have strong sector knowledge, allowing them to tailor their financial services to the niche coffee market, and are often active farmers themselves. A unique lending approach: COOPAC Norandino provides financing for individual farmers as well as agricultural cooperatives. Loans funded on Kiva are used both to help COOPAC Norandino continue growing its organic coffee and cacao portfolio, and to fund a new low-interest loan product created for Kiva for female cooperative members or spouses to develop rural microenterprises. This new type of loan will help smooth and diversify producer household income, which in turn will smooth COOPAC Norandino's annual cash flow and lower risk exposure in their portfolio, allowing them to continue growing and supporting the entire agricultural value chain. COOPAC Norandino's other non-agricultural loan products, such as their emergency health loan, may be considered for Kiva funding in the future.

Repayment Performance on Kiva

    This Field Partner All Kiva Partners
  Start Date On Kiva Aug 8, 2016 Oct 12, 2005
Total Loans $3,301,495 $1,758,239,665
Amount of raised Inactive loans $0 $441,550
Number of raised Inactive loans 0 132
Amount of Paying Back Loans $418,375 $163,202,810
Number of Paying Back Loans 396 193,982
Amount of Ended Loans $2,883,120 $1,591,353,280
Number of Ended Loans 2,814 2,108,808
Delinquency Rate 6.72% 15.34%
Amount in Arrears $26,121 $15,585,726
Outstanding Portfolio $258,046 $101,609,202
Number of Loans Delinquent 46 72,330
Default Rate 0.31% 1.70%
Amount of Ended Loans Defaulted $9,075 $26,998,026
Number of Ended Loans Defaulted 14 70,224
Currency Exchange Loss Rate 0.00% 0.46%
Amount of Currency Exchange Loss $137 $9,202,644
Refund Rate 0.00% 0.57%
Amount of Refunded Loans $0 $9,961,195
Number of Refunded Loans 0 9,182

Loan Characteristics On Kiva

    This Field Partner All Kiva Partners
  Loans to Women Borrowers 38.42% 77.81%
Average Loan Size $1,029 $389
Average Individual Loan Size $1,029 $594
Average Group Loan Size $0 $1,839
Average number of borrowers per group 0 8.2
Average GDP per capita (PPP) in local country $12,000 $5,628
Average Loan Size / GDP per capita (PPP) 8.57% 6.90%
Average Time to Fund a Loan 6.43 days 8.44 days
Average Dollars Raised Per Day Per Loan $160.02 $46.05
  Average Loan Term 10.19 months 11.38 months

Journaling Performance on Kiva

    This Field Partner All Kiva Partners
  Total Journals 37 1,071,973
  Journaling Rate 1.13% 42.48%
  Average Number of Comments Per Journal 0.00 0.03
  Average Number of Recommendations Per Journal 0.00 0.62

Borrowing Cost Comparison (based on 2009 data)

    This Field Partner Median for MFI's in Country All Kiva Partners
  Average Cost to Borrower 31% APR 29.00% PY 26.11% PY
  Profitability (return on assets) N/A 1.4% 0.00%
  Average Loan Size (% of per capita income) N/A 42.00% 0.00%

Country Fast Facts

Field Partner Staff

Eduar Alejandría API
Freddy Rolando García Timaná
Antonio Nicho API
Jahaira Sofía Rojas Alarcón