Kiva conducts regular, ongoing monitoring of all Field 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 Field Partners, as in past crises. We are sympathetic to temporary increases in repayment delays and delinquency in order to help Field 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 Field Partner All Kiva Partners
  Start Date On Kiva Nov 20, 2017 Oct 12, 2005
Total Loans $1,479,575 $1,538,298,820
Amount of raised Inactive loans $0 $419,975
Number of raised Inactive loans 0 181
Amount of Paying Back Loans $877,550 $163,850,245
Number of Paying Back Loans 954 202,135
Amount of Ended Loans $602,025 $1,374,028,600
Number of Ended Loans 752 1,807,818
Delinquency Rate 9.11% 18.27%
Amount in Arrears $57,396 $19,086,649
Outstanding Portfolio $518,205 $104,461,181
Number of Loans Delinquent 345 85,447
Default Rate 0.15% 1.72%
Amount of Ended Loans Defaulted $908 $23,639,993
Number of Ended Loans Defaulted 1 58,923
Currency Exchange Loss Rate 0.00% 0.40%
Amount of Currency Exchange Loss $0 $6,506,260
Refund Rate 0.09% 0.61%
Amount of Refunded Loans $1,275 $9,385,675
Number of Refunded Loans 1 8,723

Loan Characteristics On Kiva

    This Field Partner All Kiva Partners
  Loans to Women Borrowers 97.26% 77.15%
Average Loan Size $866 $391
Average Individual Loan Size $867 $604
Average Group Loan Size $1,142 $1,776
Average number of borrowers per group 2 7.9
Average GDP per capita (PPP) in local country $6,100 $5,692
Average Loan Size / GDP per capita (PPP) 14.20% 6.87%
Average Time to Fund a Loan 12.89 days 7.91 days
Average Dollars Raised Per Day Per Loan $67.16 $49.45
  Average Loan Term 19.44 months 11.35 months

Journaling Performance on Kiva

    This Field Partner All Kiva Partners
  Total Journals 27 946,775
  Journaling Rate 3.49% 42.82%
  Average Number of Comments Per Journal 0.00 0.03
  Average Number of Recommendations Per Journal 0.00 0.69

Borrowing Cost Comparison (based on 2016 data)

    This Field Partner Median for MFI's in Country All Kiva Partners
  Average Cost to Borrower 30% PY 34.00% PY 27.05% PY
  Profitability (return on assets) 3.98% 6.8% -0.69%
  Average Loan Size (% of per capita income) N/A 14.00% 11.51%

Country Fast Facts

Field Partner Staff

Manal Abdullah
Issa Abu Mariam
Ghada Al-Shobbak
Bdour Alhyari
Njoud Amro
Mohammad Ebbeni
Reham Haddadin
Aseel Hamdan
Haneen Khzouz
Abeer Mohammad Ali
Lara Naber
Lama Totah
Hadeel Turk
Shatha Yousef