Kiva conducts regular," ongoing monitoring "of all Field Partners, but only posts status updates here" in response to relevant," major changes at the"partner. June 9, 2020 - COVID-19 Update: Kiva has been in contact with Fundaci"n Paraguaya"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. Paraguay has imposed temporary moratoriums on loan payments, affecting not only microfinance, but the economy as a whole." As a result, borrowers and Fundaci"n Paraguaya 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 Fundaci"n Paraguaya. 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 Fundaci"n Paraguaya to support them and their borrowers through the COVID-19 crisis. Fundaci"n Paraguaya is sending regular updates to Kiva, and we'll update Partner Pages as we learn more." On behalf of Kiva and Fundaci"n Paraguaya, we?re grateful for your continued support through this difficult time." Partner Description: Fundaci"n Paraguaya is a financially self-sustaining social enterprise that promotes entrepreneurship in urban and rural areas through three inter-related strategies: 1) A microfinance program that targets micro-entrepreneurs and emerging businesses, individuals who cannot access credit through banks or even other microfinance institutions. 2) An economic education program for children and youth so that they grow up with financial literacy they can leverage in their careers. 3) A financially self-sufficient and award-winning agricultural high school that teaches organic agriculture and entrepreneurial skills to low-income youth from rural areas, transforming their potential and earning power. These three program run separately in terms of budget and finances, but they are closely integrated at the operational level so that they enrich one another. This synergy adds value and is the driving force behind Fundaci"n Paraguaya?s business model. It?s also the ingredient that makes the organization?s microfinance program so successful. The staff at Fundaci"n Paraguaya has a well-designed plan to lift clients out of poverty using the following strategies: Direct delivery of financial and non-financial products. Strategic alliances with like-minded organizations. Clear focus on the growth and development of customers based on their feedback. The organization?s microfinance program is a profitable, carefully managed business. Over the last five years, return of equity has averaged 10%. It has also been recognized by the Inter-American Development Bank and the World Bank for its transparency and client-centric approach. Fundaci"n Paraguaya distinguishes itself from its competition in two key respects. First, it concentrates on lending to micro-entrepreneurs and emerging businesses that are too small to get service from other microlenders. The average loan size offered by competing organizations is $600. Fundaci"n Paraguaya?s average loan size is less than $450 with loans as low as $40. Second, it provides a range of non-financial services, including client education, business advisory and community development services, and more. This enables Fundaci"n Paraguaya to position itself as a development organization, rather than a purely financial institution. Images courtesy of Fundaci " n Paraguaya.

Repayment Performance on Kiva

    This Field Partner All Kiva Partners
  Start Date On Kiva May 23, 2007 Oct 12, 2005
Total Loans $100,676,390 $1,758,239,665
Amount of raised Inactive loans $0 $441,550
Number of raised Inactive loans 0 132
Amount of Paying Back Loans $4,899,500 $163,202,810
Number of Paying Back Loans 2,301 193,982
Amount of Ended Loans $95,776,890 $1,591,353,280
Number of Ended Loans 39,506 2,108,808
Delinquency Rate 10.29% 15.34%
Amount in Arrears $260,442 $15,585,726
Outstanding Portfolio $1,709,286 $101,609,202
Number of Loans Delinquent 547 72,330
Default Rate 0.46% 1.70%
Amount of Ended Loans Defaulted $444,512 $26,998,026
Number of Ended Loans Defaulted 622 70,224
Currency Exchange Loss Rate 0.18% 0.46%
Amount of Currency Exchange Loss $335,575 $9,202,644
Refund Rate 0.10% 0.57%
Amount of Refunded Loans $101,650 $9,961,195
Number of Refunded Loans 71 9,182

Loan Characteristics On Kiva

    This Field Partner All Kiva Partners
  Loans to Women Borrowers 82.11% 77.81%
Average Loan Size $228 $389
Average Individual Loan Size $791 $594
Average Group Loan Size $3,470 $1,839
Average number of borrowers per group 16.9 8.2
Average GDP per capita (PPP) in local country $8,400 $5,628
Average Loan Size / GDP per capita (PPP) 2.71% 6.90%
Average Time to Fund a Loan 7.88 days 8.44 days
Average Dollars Raised Per Day Per Loan $28.93 $46.05
  Average Loan Term 7.82 months 11.38 months

Journaling Performance on Kiva

    This Field Partner All Kiva Partners
  Total Journals 3,517 1,071,973
  Journaling Rate 8.52% 42.48%
  Average Number of Comments Per Journal 0.07 0.03
  Average Number of Recommendations Per Journal 1.23 0.62

Borrowing Cost Comparison (based on 2009 data)

    This Field Partner Median for MFI's in Country All Kiva Partners
  Average Cost to Borrower 40% PY 24.00% PY 26.11% PY
  Profitability (return on assets) N/A 2% 0.00%
  Average Loan Size (% of per capita income) N/A 35.00% 0.00%

Country Fast Facts

Field Partner Staff

Juan Emilio Espinola Jimenez
Jaime Ferreira
Luis Jara
Liliana Marroco
Claudia Ortega
Luis Fernando Sanabria