What to know about this Lending Partner
Kiva conducts regular, ongoing monitoring of all Lending Partners, but only posts status updates here in response to relevant, major changes at the partner.
Status Update- August 30, 2022
Kiva and SGS have agreed to end their partnership after nearly 7 years and more than $299,000 in loans raised. This partner has repaid its outstanding balance to Kiva in full, and these funds have been distributed to lenders. We thank SGS for the years of collaboration and wish them success in their future endeavors.
Partner description:
SGS is a public limited company focused on providing financing for housing, small and medium sized businesses, and payroll loans. SGS partners with organizations that specialize in building houses in rural areas in eco-friendly ways. They also purchase local building materials with the aim of stimulating the local economy. SGS was created with the goal of providing affordable housing loans in a region where these loans are expensive and difficult to come by. While their legal name is SGS, they have developed a brand called AMIFIN, which is the name they use to market themselves and is how they are known in Mexico.
A unique lending approach:
Kiva funding helps SGS provide loans to more rural and higher-risk populations. SGS will offer two types of loans with Kiva funding. Housing Improvement loans are provided to extremely vulnerable populations, including women who may be widowed, caring for their parents or who are single mothers. House Eco-Improvement loans help borrowers buy products that improve their quality of life and their health. These products include latrines, solar panels, rain capture tanks, biodigesters, and energy and water saving systems.