Cooperativa de Ahorro y Crédito Norandino
Kiva conducts regular, ongoing monitoring of all Lending 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 Lending Partners, as in past crises. We are sympathetic to temporary increases in repayment delays and delinquency in order to help Lending 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 Crédito 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 Lending Partner | All Kiva Partners | ||
Start Date On Kiva | Aug 8, 2016 | Oct 12, 2005 | |
---|---|---|---|
Total Loans | $4,147,705 | $2,043,632,365 | |
Amount of raised Inactive loans | $0 | $314,375 | |
Number of raised Inactive loans | 0 | 175 | |
Amount of Paying Back Loans | $342,710 | $159,113,005 | |
Number of Paying Back Loans | 334 | 191,440 | |
Amount of Ended Loans | $3,804,995 | $1,843,318,805 | |
Number of Ended Loans | 3,707 | 2,482,233 | |
Delinquency Rate | 8.69% | 12.31% | |
Amount in Arrears | $26,493 | $12,068,428 | |
Outstanding Portfolio | $225,971 | $98,006,179 | |
Number of Loans Delinquent | 42 | 65,730 | |
Default Rate | 0.52% | 1.83% | |
Amount of Ended Loans Defaulted | $19,770 | $33,658,280 | |
Number of Ended Loans Defaulted | 32 | 88,833 | |
Currency Exchange Loss Rate | 0.00% | 0.47% | |
Amount of Currency Exchange Loss | $153 | $12,608,670 | |
Refund Rate | 0.02% | 0.54% | |
Amount of Refunded Loans | $950 | $10,936,620 | |
Number of Refunded Loans | 1 | 9,669 |
Loan Characteristics On Kiva
This Lending Partner | All Kiva Partners | ||
Loans to Women Borrowers | 39.53% | 78.46% | |
---|---|---|---|
Average Loan Size | $1,026 | $393 | |
Average Individual Loan Size | $1,026 | $586 | |
Average Group Loan Size | $0 | $1,910 | |
Average number of borrowers per group | 0 | 8.3 | |
Average GDP per capita (PPP) in local country | $12,000 | $5,593 | |
Average Loan Size / GDP per capita (PPP) | 8.55% | 7.02% | |
Average Time to Fund a Loan | 8.47 days | 9.11 days | |
Average Dollars Raised Per Day Per Loan | $121.16 | $43.11 | |
Average Loan Term | 10.36 months | 11.5 months |
Journaling Performance on Kiva
This Lending Partner | All Kiva Partners | ||
Total Journals | 38 | 1,218,131 | |
---|---|---|---|
Journaling Rate | 0.86% | 41.90% | |
Average Number of Comments Per Journal | 0.00 | 0.02 | |
Average Number of Recommendations Per Journal | 0.00 | 0.55 |
Borrowing Cost Comparison (based on 2017 data)
This Lending Partner | Median for MFI's in Country | All Kiva Partners | ||
Average Cost to Borrower | 31% APR | 29.00% PY | 26.44% PY | |
---|---|---|---|---|
Profitability (return on assets) | 0.01% | 1.4% | -1.35% | |
Average Loan Size (% of per capita income) | N/A | 42.00% | 0.00% |
Country Fast Facts
- Country:
- Peru
- Capital:
- Lima
- Official Language:
- Spanish (official) 84.1%, Quechua (official) 13%, Aymara (official) 1.7%, Ashaninka 0.3%, other native languages 0.7%, other 0.2%
- Population:
- 30,147,935
- Avg Annual Income:
- $12,000
- Labor Force:
- agriculture: 25.8%, industry: 17.4%, services: 56.8%
- Population Below Poverty Line:
- 23.90%
- Literacy Rate:
- 94.50%
- Infant Mortality Rate (per 1000):
- 20.21 deaths
- Life Expectancy:
- 68.39 years
Lending Partner Staff
Diana Carolina Chumacero MendozaFreddy Rolando García Timaná