Solar and Energy Loan Fund, SELF, was founded in 2010 and focuses on community development projects in underserved areas in Florida, with an emphasis on home energy improvements.
SELF provides energy expertise and affordable financing to help low to mid-income homeowners and small businesses identify and make cost-effective energy changes to their homes and businesses.  
Energy costs are a disproportionate percentage of household expenses for low-income households and electricity costs have been steadily rising in Florida.
A unique lending approach:
SELF uses Kiva financing to help female homeowners save money on home energy and build or strengthen their credit rating.  These in-kind loans will be given in the form of energy efficiency upgrades or retrofits, and provided to low-income female homeowners that may not have solid credit history, but have income to repay a loan.
The energy efficiency improvements will increase home equity and home market value, provide more comfort and livability for the women and their children, and allow the homeowners to reduce costs.
SELF handles all project management; the borrower's only responsibility is to make monthly loan repayments.
Potential retrofits are identified through an energy audit performed by a state-certified energy rater. Once the SELF-approved contractors have completed the projects, if the retrofits are approved and up to SELF's standards, funds are then disbursed to contractors. Borrowers use energy savings, rebates, and tax credits to help pay off the loans over time.


Repayment Performance on Kiva

    This Field Partner All Kiva Partners
  Start Date On Kiva Jul 14, 2014 Oct 12, 2005
Total Loans $308,325 $812,046,575
Amount of raised Inactive loans $0 $342,200
Number of raised Inactive loans 0 155
Amount of Paying Back Loans $308,325 $136,425,425
Number of Paying Back Loans 50 162,056
Amount of Ended Loans $0 $675,278,950
Number of Ended Loans 0 835,877
Delinquency Rate 0.00% 8.08%
Amount in Arrears $0 $7,266,834
Outstanding Portfolio $262,150 $89,969,274
Number of Loans Delinquent 0 23,597
Default Rate 0.00% 1.27%
Amount of Ended Loans Defaulted $0 $8,554,773
Amount of Ended Loans $0 $675,278,950
Number of Ended Loans Defaulted 0 22,689
Currency Exchange Loss Rate 0.00% 0.41%
Amount of Currency Exchange Loss $0 $3,290,899
Refund Rate 1.84% 0.65%
Amount of Refunded Loans $5,675 $5,255,750
Number of Refunded Loans 1 5,636

Loan Characteristics On Kiva

    This Field Partner All Kiva Partners
  Loans to Women Borrowers 76.67% 74.67%
Average Loan Size $6,157 $409
Average Individual Loan Size $6,157 $646
Average Group Loan Size $0 $1,819
Average number of borrowers per group 0 7.9
Average GDP per capita (PPP) in local country $54,800 $5,943
Average Loan Size / GDP per capita (PPP) 11.24% 6.89%
Average Time to Fund a Loan 15.6 days 6.79 days
Average Dollars Raised Per Day Per Loan $394.67 $60.30
  Average Loan Term 61.6 months 10.96 months

Journaling Performance on Kiva

    This Field Partner All Kiva Partners
  Total Journals 0 397,969
  Journaling Rate 0.00% 40.65%
  Average Number of Comments Per Journal 0.00 0.06
  Average Number of Recommendations Per Journal 0.00 1.39

Borrowing Cost Comparison (based on 2014 data)

    This Field Partner Median for MFI's in Country All Kiva Partners
  Average Cost to Borrower 7% APR N/A 28.61% PY
  Profitability (return on assets) N/A N/A -0.64%
  Average Loan Size (% of per capita income) N/A N/A 19.63%

Country Fast Facts

Field Partner Staff

Duanne Andrade
Jacqueline Hudson