Fundraising Status:active
Risk Rating:
What to know about this Lending Partner
Impact Category:
General Financial Inclusion
Default Rate:
0.59%
Currency Exchange Loss Rate:
0.22%
Total Loans Raised:
$4,376,285
Loans at Risk Rate:
100%
Kiva Borrowers:
5,546
Delinquency Rate:
100%
Interests and Fees:
20% PY
Partner description:
Yikri is a microfinance institution based in Burkina Faso that serves vulnerable communities. To better target these communities, Yikri partners with local associations who have expressed that their beneficiaries are in need of microfinance products, such as associations working with widows and disabled people. Given that people of these backgrounds are often completely excluded from other financial services, including from traditional microfinance institutions, Yikri is serving an unmet need.
A unique lending approach:
Yikri will use Kiva financing to offer loans to underbanked populations in Burkina Faso working in small enterprises, agriculture and livestock. Yikri loans allow borrowers to buy small equipment and provide working capital.
Yikri loans are individual loans, however each individual must be part of a larger group with whom they participate in monthly or bi-monthly meetings/trainings.
While expansion into extremely vulnerable areas means riskier work, Yikri is placing significant emphasis on providing training for clients and have been finding repayment rates to be strong to date.