Fundraising Status:active
Risk Rating:
What to know about this Lending Partner
Impact Category:
Other
Default Rate:
0.02%
Currency Exchange Loss Rate:
0.25%
Total Loans Raised:
$2,703,300
Loans at Risk Rate:
6.71%
Kiva Borrowers:
14,122
Delinquency Rate:
4.35%
Interests and Fees:
34% APR
Focusing mainly on reaching women and youth, the organization aims to alleviate poverty through social mobilization as a means for enterprise and job creation, business training, value addition and market linkage support, and access to microfinance services.
A unique lending approach:
HiH EA targets poor, vulnerable individuals, who are living on less than $2 USD per day and are excluded from the existing financial services in poor rural and urban areas.
The organization has developed a 24-week enterprise development-training program that ensures each borrower has basic business and loan management skills prior to receiving a loan. Each loan on Kiva will be an Enterprise Incubation Fund (EIF) loan, which will help borrowers to start or enhance their enterprises.
HiH EA has specifically tried to target the client segment that most financial institutions shy away from in order to give low-income individuals opportunities they otherwise would not have access to. With Kiva’s support, HiH EA will be able to assist vulnerable individuals, particularly women and youth, to develop credit history, improve livelihood, ensure food security and increase income.