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

Status update — December 12, 2019

More than a year and a half since the political crisis began in Nicaragua, some stability has returned. Dialogue between the government and civil society has helped in partially resolving the crisis. However, while the government appears to consider the crisis to be over (they've suspended dialogue), many feel the root causes of the crisis remain unaddressed and protests continue. 

For Aldea Global, 2019 has brought renewed portfolio growth and a stabilizing of portfolio quality. Kiva will continue to support Aldea Global as they work with their borrowers to recover from the political crisis and subsequent economic downturn. The economy, while declining at almost 4% in 2018, according to the World Bank, has returned to growth, albeit slow, in 2019. Given the ongoing uncertainty, many banks and firms are taking a wait-and-see approach to lending and investment. The next presidential elections are scheduled for 2021.

Status update — May 22, 2018

Protests have started in Nicaragua in late April against a since-canceled move to cut social security benefits and increase payroll taxes. People have taken to the streets in demonstrations that have called for President Ortega to step down. Unfortunately, these protests have resulted in the loss of life and a partial economic paralyzation of the country. Talks are currently on-going among all parties to resolve the situation peacefully. We have been in contact with our partners and are currently monitoring the situation closely as Kiva borrowers and partner staff have been affected by such political and social unrest. This might result in an increase in delinquency rates since a lot of informal economic activities have come to a complete stop. As more information comes in, we will update lenders accordingly.

Partner description:

Aldea Global is a nonprofit association of smallholder farmers based in the region of Jinotega, Nicaragua. Aldea Global is the sixth largest green coffee exporter and the second largest small farmer association in Nicaragua. They process, market and sell member coffee and produce, working with 1,800 growers and exporting under various certifications including FairTrade, Small Producers Symbol, RainForest Alliance, Tierra Madre (women-produced coffee) and direct trade (single estate coffee). Coffee sales account for nearly 90% of their total revenue.

A unique lending approach:

Aldea Global uses Kiva financing to offer group loans to more growers, in particular women's solidarity groups, known as Grupos de Desarrollo Empresarial con Mujeres. Groups consist of 3 to 8 women and loans are grouped into 3 sectors: agriculture, small business, and water and sanitation.

Repayment Performance on Kiva

    This Field Partner All Kiva Partners
  Start Date On Kiva Dec 27, 2016 Oct 12, 2005
Total Loans $1,571,675 $1,608,688,920
Amount of raised Inactive loans $0 $647,750
Number of raised Inactive loans 0 706
Amount of Paying Back Loans $469,100 $165,151,500
Number of Paying Back Loans 777 202,585
Amount of Ended Loans $1,102,575 $1,442,889,670
Number of Ended Loans 1,895 1,907,536
Delinquency Rate 0.45% 17.24%
Amount in Arrears $1,709 $17,837,794
Outstanding Portfolio $355,334 $103,457,745
Number of Loans Delinquent 11 75,538
Default Rate 0.00% 1.71%
Amount of Ended Loans Defaulted $0 $24,702,368
Number of Ended Loans Defaulted 0 61,787
Currency Exchange Loss Rate 0.00% 0.40%
Amount of Currency Exchange Loss $18 $7,011,687
Refund Rate 0.25% 0.59%
Amount of Refunded Loans $3,975 $9,486,100
Number of Refunded Loans 4 8,846

Loan Characteristics On Kiva

    This Field Partner All Kiva Partners
  Loans to Women Borrowers 89.87% 77.44%
Average Loan Size $347 $392
Average Individual Loan Size $499 $600
Average Group Loan Size $832 $1,805
Average number of borrowers per group 3.6 8
Average GDP per capita (PPP) in local country $4,800 $5,673
Average Loan Size / GDP per capita (PPP) 7.22% 6.91%
Average Time to Fund a Loan 7.14 days 8.07 days
Average Dollars Raised Per Day Per Loan $48.54 $48.58
  Average Loan Term 10.7 months 11.36 months

Journaling Performance on Kiva

    This Field Partner All Kiva Partners
  Total Journals 851 979,534
  Journaling Rate 39.87% 42.24%
  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 2017 data)

    This Field Partner Median for MFI's in Country All Kiva Partners
  Average Cost to Borrower 29% APR 27.00% PY 26.41% PY
  Profitability (return on assets) 6.03% 0.9% -0.56%
  Average Loan Size (% of per capita income) N/A 40.00% 11.35%

Country Fast Facts

Field Partner Staff

Vitali Campos
Jessenia Chavarría
Diédericks Gadea
API Repayment Reporting
Freydel Zelaya