Since the end of 2019, Indosole has been struggling to make repayments to Kiva due to a deteriorating operating environment, which led to decreased sales and revenue. In this context, Indosole accumulated a large balance of debt, and with insufficient liquidity at hand was incapable of meeting creditors' obligations. As such, they hired a third-party collector to consolidate debt holdings and negotiate with each party partial repayment plans that would allow lenders to get a portion of their investment back. . Ultimately, despite Indosole’s financial troubles Kiva was able to negotiate a partial payment of their obligations, which has been fully collected and settled out to lenders. We are now defaulting the remaining balance of this loan and closing this partnership, as we do not envision any path for Indosole to repay their remaining balance to Kiva lenders. Please know that even in cases of non-repayment, your loans are still helping make a difference in the lives of borrowers around the globe, and with your support you're giving people an opportunity to pursue better lives.

There is no Lending Partner for this loan. It is part of the Direct to Social Enterprise program. For more details on DSE, please click here. For more details on the borrower, please refer to their loan profile. 

Repayment Performance on Kiva

    This Lending Partner All Kiva Partners
  Start Date On Kiva Oct 17, 2016 Oct 12, 2005
Total Loans $130,000 $1,958,300,470
Amount of raised Inactive loans $0 $202,845
Number of raised Inactive loans 0 165
Amount of Paying Back Loans $0 $160,872,085
Number of Paying Back Loans 0 188,297
Amount of Ended Loans $130,000 $1,768,236,180
Number of Ended Loans 2 2,370,020
Delinquency Rate 0.00% 12.24%
Amount in Arrears $0 $12,206,242
Outstanding Portfolio $0 $99,725,561
Number of Loans Delinquent 0 72,811
Default Rate 49.64% 1.83%
Amount of Ended Loans Defaulted $64,537 $32,298,216
Number of Ended Loans Defaulted 1 84,743
Currency Exchange Loss Rate 0.00% 0.50%
Amount of Currency Exchange Loss $0 $11,931,838
Refund Rate 0.00% 0.54%
Amount of Refunded Loans $0 $10,526,300
Number of Refunded Loans 0 9,596

Loan Characteristics On Kiva

    This Lending Partner All Kiva Partners
  Loans to Women Borrowers 0.00% 78.22%
Average Loan Size $65,000 $392
Average Individual Loan Size $65,000 $589
Average Group Loan Size $0 $1,891
Average number of borrowers per group 0 8.3
Average GDP per capita (PPP) in local country $5,200 $5,599
Average Loan Size / GDP per capita (PPP) 1,250.00% 7.00%
Average Time to Fund a Loan 23.05 days 8.93 days
Average Dollars Raised Per Day Per Loan $2,820.49 $43.87
  Average Loan Term 18.5 months 11.47 months

Journaling Performance on Kiva

    This Lending Partner All Kiva Partners
  Total Journals 18 1,178,470
  Journaling Rate 100.00% 42.26%
  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 2009 data)

    This Lending Partner Median for MFI's in Country All Kiva Partners
  Average Cost to Borrower N/A N/A 27.02% PY
  Profitability (return on assets) N/A N/A -3.10%
  Average Loan Size (% of per capita income) N/A N/A 0.00%

Country Fast Facts

Lending Partner Staff