10/19/2021


Indosole


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 Field 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 Field Partner All Kiva Partners
  Start Date On Kiva Oct 17, 2016 Oct 12, 2005
Total Loans $130,000 $1,606,044,595
Amount of raised Inactive loans $0 $343,050
Number of raised Inactive loans 0 389
Amount of Paying Back Loans $0 $163,624,250
Number of Paying Back Loans 0 199,854
Amount of Ended Loans $130,000 $1,442,077,295
Number of Ended Loans 2 1,906,880
Delinquency Rate 0.00% 16.26%
Amount in Arrears $0 $16,550,633
Outstanding Portfolio $0 $101,788,297
Number of Loans Delinquent 0 49,658
Default Rate 49.64% 1.71%
Amount of Ended Loans Defaulted $64,537 $24,614,777
Number of Ended Loans Defaulted 1 61,388
Currency Exchange Loss Rate 0.00% 0.40%
Amount of Currency Exchange Loss $0 $7,011,572
Refund Rate 0.00% 0.59%
Amount of Refunded Loans $0 $9,477,100
Number of Refunded Loans 0 8,839

Loan Characteristics On Kiva

    This Field Partner All Kiva Partners
  Loans to Women Borrowers 0.00% 77.44%
Average Loan Size $65,000 $392
Average Individual Loan Size $65,000 $600
Average Group Loan Size $0 $1,806
Average number of borrowers per group 0 8
Average GDP per capita (PPP) in local country $5,200 $5,675
Average Loan Size / GDP per capita (PPP) 1,250.00% 6.91%
Average Time to Fund a Loan 23.05 days 8.07 days
Average Dollars Raised Per Day Per Loan $2,820.49 $48.58
  Average Loan Term 18.5 months 11.35 months

Journaling Performance on Kiva

    This Field Partner All Kiva Partners
  Total Journals 18 977,859
  Journaling Rate 100.00% 42.27%
  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 2009 data)

    This Field Partner Median for MFI's in Country All Kiva Partners
  Average Cost to Borrower N/A N/A 26.56% PY
  Profitability (return on assets) N/A N/A -0.53%
  Average Loan Size (% of per capita income) N/A N/A 11.35%

Country Fast Facts

Field Partner Staff