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

Status update - February 19, 2019

Protests started in Nicaragua in late April 2018 against a since-canceled move to cut social security benefits and increase payroll taxes. People have taken to the streets in demonstrations that have called for President Ortega to step down. Unfortunately, these protests have resulted in the loss of life and a partial economic paralyzation of the country. Talks are currently on-going among all parties to resolve the situation peacefully. We have been in contact with our partners and are currently monitoring the situation closely as Kiva borrowers and partner staff have been affected by such political and social unrest. This might result in an increase in delinquency rates since a lot of informal economic activities have come to a complete stop. As more information comes in, we will update lenders accordingly.

Partner description:
FUNDENUSE is a microfinance institution(MFI) that spun out of the non-profit foundation La Fundación para el Desarrollo de Nueva Segovia in 2012. Today, FUNDENUSE is one of the largest MFIs in Nicaragua and is committed to addressing the problem of financial inclusion in some of Nicaragua’s poorest regions.

A unique lending approach:
FUNDENUSE uses Kiva financing to offer loans in 4 sectors: youth entrepreneurship, water and sanitation, clean technology, and solidarity groups. Since 57% of FUNDENUSE’s clients are women, it is expected that the same percentage of Kiva borrowers will be women.


Repayment Performance on Kiva

    This Field Partner All Kiva Partners
  Start Date On Kiva Dec 18, 2018 Oct 12, 2005
Total Loans $258,800 $1,330,802,700
Amount of raised Inactive loans $0 $547,125
Number of raised Inactive loans 0 685
Amount of Paying Back Loans $248,675 $147,970,550
Number of Paying Back Loans 278 195,474
Amount of Ended Loans $10,125 $1,182,285,025
Number of Ended Loans 15 1,522,055
Delinquency Rate 0.00% 10.42%
Amount in Arrears $0 $9,802,012
Outstanding Portfolio $147,410 $94,101,479
Number of Loans Delinquent 0 55,529
Default Rate 0.00% 1.74%
Amount of Ended Loans Defaulted $0 $20,609,355
Number of Ended Loans Defaulted 0 50,258
Currency Exchange Loss Rate 0.00% 0.39%
Amount of Currency Exchange Loss $0 $5,175,709
Refund Rate 0.00% 0.59%
Amount of Refunded Loans $0 $7,878,725
Number of Refunded Loans 0 7,776

Loan Characteristics On Kiva

    This Field Partner All Kiva Partners
  Loans to Women Borrowers 68.44% 76.40%
Average Loan Size $440 $394
Average Individual Loan Size $802 $609
Average Group Loan Size $995 $1,761
Average number of borrowers per group 3.4 7.7
Average GDP per capita (PPP) in local country $4,800 $5,776
Average Loan Size / GDP per capita (PPP) 9.17% 6.82%
Average Time to Fund a Loan 8.41 days 7.13 days
Average Dollars Raised Per Day Per Loan $52.36 $55.26
  Average Loan Term 14.21 months 11.34 months

Journaling Performance on Kiva

    This Field Partner All Kiva Partners
  Total Journals 9 789,496
  Journaling Rate 34.62% 43.17%
  Average Number of Comments Per Journal 0.00 0.03
  Average Number of Recommendations Per Journal 0.00 0.81

Borrowing Cost Comparison (based on 2009 data)

    This Field Partner Median for MFI's in Country All Kiva Partners
  Average Cost to Borrower N/A 27.00% PY 25.36% PY
  Profitability (return on assets) 2.3% 0.9% -1.96%
  Average Loan Size (% of per capita income) N/A 40.00% 12.88%

Country Fast Facts

Field Partner Staff

Arelys Altamirano