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

July 9, 2020 - COVID-19 Update:

Kiva has been in contact with Microfund for Women (MFW) 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. Jordan has imposed temporary moratoriums on loan payments, affecting not only microfinance, but the economy as a whole. This has caused many economies and businesses to grind to a halt. 

As a result, borrowers and Microfund for Women (MFW) 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 Microfund for Women (MFW). 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 Microfund for Women (MFW) to support them and their borrowers through the COVID-19 crisis. Microfund for Women (MFW) is sending regular updates to Kiva, and we'll update Partner Pages as we learn more. 

On behalf of Kiva and Microfund for Women (MFW), we’re grateful for your continued support through this difficult time. 

Partner description:
Microfund for Women is a nonprofit microfinance institution that aims to help underserved entrepreneurs in Jordan access credit. To increase access to financial services to all marginalized communities, including refugees and older adults, they do not require collateral on their loans. Additionally, Microfund for Women focuses on developing innovative products and services, such as education loans, to accompany their traditional small business loans. 

Microfund for Women also provides non-financial services to empower their clients and comprehensively support their borrowers. These services include a microinsurance program, a business development program and other initiatives that help borrowers develop the skills to succeed as entrepreneurs. While Microfund for Women serves both women and men, the majority of their borrowers and staff are women. 

A unique lending approach:
Since Microfund for Women is the largest microfinance institution in Jordan, they are able to develop innovative loan products that can specifically meet the needs of entrepreneurial women. These innovations include supporting start-up businesses, refugees, retired women and any other population who is left out of conventional financial services. 

Loans funded by Kiva lenders will help Microfund for Women create and scale their newest and most innovative loans to increase their impact throughout Jordan.

Repayment Performance on Kiva

    This Lending Partner All Kiva Partners
  Start Date On Kiva Nov 20, 2017 Oct 12, 2005
Total Loans $4,785,770 $1,958,174,645
Amount of raised Inactive loans $725 $177,800
Number of raised Inactive loans 1 139
Amount of Paying Back Loans $2,038,160 $160,798,330
Number of Paying Back Loans 1,917 188,174
Amount of Ended Loans $2,746,885 $1,768,209,155
Number of Ended Loans 2,803 2,369,978
Delinquency Rate 16.12% 12.26%
Amount in Arrears $195,676 $12,218,664
Outstanding Portfolio $977,964 $99,638,880
Number of Loans Delinquent 853 72,852
Default Rate 4.97% 1.83%
Amount of Ended Loans Defaulted $136,422 $32,286,917
Number of Ended Loans Defaulted 224 84,711
Currency Exchange Loss Rate 0.00% 0.50%
Amount of Currency Exchange Loss $0 $11,931,838
Refund Rate 0.19% 0.54%
Amount of Refunded Loans $8,950 $10,526,300
Number of Refunded Loans 5 9,596

Loan Characteristics On Kiva

    This Lending Partner All Kiva Partners
  Loans to Women Borrowers 96.46% 78.22%
Average Loan Size $1,014 $392
Average Individual Loan Size $1,014 $589
Average Group Loan Size $1,142 $1,891
Average number of borrowers per group 2 8.3
Average GDP per capita (PPP) in local country $6,100 $5,599
Average Loan Size / GDP per capita (PPP) 16.62% 7.00%
Average Time to Fund a Loan 19.07 days 8.93 days
Average Dollars Raised Per Day Per Loan $53.16 $43.87
  Average Loan Term 20.73 months 11.47 months

Journaling Performance on Kiva

    This Lending Partner All Kiva Partners
  Total Journals 109 1,178,265
  Journaling Rate 3.14% 42.27%
  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 2016 data)

    This Lending Partner Median for MFI's in Country All Kiva Partners
  Average Cost to Borrower 30% PY 34.00% PY 27.02% PY
  Profitability (return on assets) 6.16% 6.8% -3.10%
  Average Loan Size (% of per capita income) N/A 14.00% 0.00%

Country Fast Facts

Lending Partner Staff

Manal Abdullah
Issa Abu Mariam
s abuenab API
Njoud Amro
Mohammad Ebbeni
Rasha HajElias
Aseel Hamdan
Ghufran Hiary
Jomana Imad API
Abeer Mohammad Ali
Lara Naber
Bandar Naserddin
Samah Shoshe
Shatha Yousef