Fundraising Status:closed
Risk Rating:
What to know about this Lending Partner
Impact Category:
General Financial Inclusion
Default Rate:
0%
Currency Exchange Loss Rate:
0%
Total Loans Raised:
$337,600
Loans at Risk Rate:
0%
Kiva Borrowers:
258
Delinquency Rate:
0%
Interests and Fees:
N/A
Status update - March 29, 2010:
Mikrofond EAD has made the decision to terminate its partnership with Kiva. Mikrofond has many sources of lending capital and no longer needs to work with Kiva. Mikrofond's decision to terminate its partnership with Kiva should be seen as positive in every way.Mikrofond's mission is to support entrepreneurs in Bulgaria by providing alternative sources of financing for start-ups and small and medium businesses which do not have access to the bank system sources of capital.
Their aim is to create the first sustainable microfinancing non-banking institution in Bulgaria, because they believe that small business entrepreneurs are the engine of the economic development and have the greatest growth potential.
Their clients are all economically active people who cannot access funding for their business projects from the existing banks and other financing institutions.