Microfund for Women
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 | $6,089,290 | $2,043,632,365 | |
Amount of raised Inactive loans | $0 | $314,375 | |
Number of raised Inactive loans | 0 | 175 | |
Amount of Paying Back Loans | $2,682,865 | $159,113,005 | |
Number of Paying Back Loans | 2,653 | 191,440 | |
Amount of Ended Loans | $3,406,425 | $1,843,318,805 | |
Number of Ended Loans | 3,392 | 2,482,233 | |
Delinquency Rate | 13.49% | 12.31% | |
Amount in Arrears | $240,614 | $12,068,428 | |
Outstanding Portfolio | $1,505,161 | $98,006,179 | |
Number of Loans Delinquent | 1,032 | 65,730 | |
Default Rate | 4.49% | 1.83% | |
Amount of Ended Loans Defaulted | $152,867 | $33,658,280 | |
Number of Ended Loans Defaulted | 259 | 88,833 | |
Currency Exchange Loss Rate | 0.00% | 0.47% | |
Amount of Currency Exchange Loss | $0 | $12,608,670 | |
Refund Rate | 0.17% | 0.54% | |
Amount of Refunded Loans | $10,225 | $10,936,620 | |
Number of Refunded Loans | 6 | 9,669 |
Loan Characteristics On Kiva
This Lending Partner | All Kiva Partners | ||
Loans to Women Borrowers | 95.78% | 78.46% | |
---|---|---|---|
Average Loan Size | $1,008 | $393 | |
Average Individual Loan Size | $1,008 | $586 | |
Average Group Loan Size | $1,142 | $1,910 | |
Average number of borrowers per group | 2 | 8.3 | |
Average GDP per capita (PPP) in local country | $6,100 | $5,593 | |
Average Loan Size / GDP per capita (PPP) | 16.52% | 7.02% | |
Average Time to Fund a Loan | 20.31 days | 9.11 days | |
Average Dollars Raised Per Day Per Loan | $49.60 | $43.11 | |
Average Loan Term | 20.67 months | 11.5 months |
Journaling Performance on Kiva
This Lending Partner | All Kiva Partners | ||
Total Journals | 175 | 1,218,131 | |
---|---|---|---|
Journaling Rate | 3.74% | 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 2016 data)
This Lending Partner | Median for MFI's in Country | All Kiva Partners | ||
Average Cost to Borrower | 30% PY | 34.00% PY | 26.44% PY | |
---|---|---|---|---|
Profitability (return on assets) | 4.22% | 6.8% | -1.35% | |
Average Loan Size (% of per capita income) | N/A | 14.00% | 0.00% |
Country Fast Facts
- Country:
- Jordan
- Capital:
- Amman
- Official Language:
- Arabic (official), English
- Population:
- 7,930,491
- Avg Annual Income:
- $6,100
- Labor Force:
- agriculture: 2.7%, industry: 20%, services: 77.4%
- Population Below Poverty Line:
- 14.20%
- Literacy Rate:
- 95.90%
- Infant Mortality Rate (per 1000):
- 15.73 deaths
- Life Expectancy:
- 74.1 years
Lending Partner Staff
Manal AbdullahIssa Abu Mariam
s abuenab API
Njoud Amro
Manar Atieh
Mohammad Ebbeni
Rasha HajElias
Aseel Hamdan
Ghufran Hiary
Jomana Imad API
Abeer Mohammad Ali
Lara Naber
Bandar Naserddin
Samah Shoshe
Shatha Yousef