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

Partner description:

Finamiga UNI2 is a microfinance institution that was born in response to the needs of Colombia’s microbusinesses to access formal credit opportunities. The company encompases its efforts on promoting financial inclusion through 4 credit lines that seek to cover demands from diverse productive sectors: Mobility, Cargo Vehicle, Working Capital and Agriculture. Along with strategic partners, Finamiga UNI2 has been able to market specialized and innovative products directed at the population at the base of the pyramid to support self-employed and micro-entrepreneurs in growing their businesses.

Since it began its operation in 2014, Finamiga UNI2 has reached more than 140 municipalities in five departments of Colombia, supporting more than 30,000 microentrepreneurs. The work carried out during the last seven years has been an essential element for the company to achieve an sBB International Social Certification by MFR, one of the main international evaluation agencies of microfinance institutions.

As one of the youngest and the fastest growing microfinance institution in Colombia, Finamiga UNI2 has managed to consolidate its social impact on different fronts, opening the doors as a first credit experience to more than 4,830 clients, an important benchmark of inclusion for sectors that are usually forgotten by traditional banking institutions.

A unique lending approach

By implementing a holistic microcredit analysis, Finamiga UNI2 opens the door to formal financial services aimed at microentrepreneurs and microbusinesess otherwise forgotten by the traditional banking system. Through focusing exclusively on productivity loans, the company guarantees a concrete investment intended to improve the clients quality of life and protect them from over indebtedness.

Repayment Performance on Kiva

    This Lending Partner All Kiva Partners
  Start Date On Kiva May 13, 2021 Oct 12, 2005
Total Loans $1,637,845 $1,961,263,340
Amount of raised Inactive loans $350 $368,750
Number of raised Inactive loans 1 225
Amount of Paying Back Loans $1,136,320 $155,292,280
Number of Paying Back Loans 1,703 180,364
Amount of Ended Loans $501,175 $1,775,561,795
Number of Ended Loans 893 2,382,297
Delinquency Rate 1.24% 11.50%
Amount in Arrears $10,224 $10,725,818
Outstanding Portfolio $528,986 $93,282,250
Number of Loans Delinquent 246 45,477
Default Rate 4.17% 1.82%
Amount of Ended Loans Defaulted $20,917 $32,353,228
Number of Ended Loans Defaulted 69 84,927
Currency Exchange Loss Rate 0.00% 0.49%
Amount of Currency Exchange Loss $18,367 $12,023,738
Refund Rate 0.41% 0.54%
Amount of Refunded Loans $6,675 $10,526,300
Number of Refunded Loans 7 9,596

Loan Characteristics On Kiva

    This Lending Partner All Kiva Partners
  Loans to Women Borrowers 42.95% 78.24%
Average Loan Size $632 $392
Average Individual Loan Size $632 $589
Average Group Loan Size $0 $1,892
Average number of borrowers per group 0 8.3
Average GDP per capita (PPP) in local country $11,100 $5,599
Average Loan Size / GDP per capita (PPP) 5.69% 7.00%
Average Time to Fund a Loan 14.44 days 8.93 days
Average Dollars Raised Per Day Per Loan $43.75 $43.86
  Average Loan Term 18.29 months 11.47 months

Journaling Performance on Kiva

    This Lending Partner All Kiva Partners
  Total Journals 0 1,181,695
  Journaling Rate 0.00% 42.25%
  Average Number of Comments Per Journal 0.00 0.02
  Average Number of Recommendations Per Journal 0.00 0.57

Borrowing Cost Comparison (based on 2009 data)

    This Lending Partner Median for MFI's in Country All Kiva Partners
  Average Cost to Borrower N/A 32.00% PY 27.02% PY
  Profitability (return on assets) 1.91% 5.1% -3.10%
  Average Loan Size (% of per capita income) N/A 23.00% 0.00%

Country Fast Facts

Lending Partner Staff

Sebastian Ayalde
Andres Goméz
Luis Carlos Mez
Santiago Ramírez API