Fundraising Status:active
Risk Rating:
What to know about this Lending Partner
Impact Category:
SME Financial Inclusion
Default Rate:
11.23%
Currency Exchange Loss Rate:
0%
Total Loans Raised:
$129,000
Loans at Risk Rate:
100%
Kiva Borrowers:
10
Delinquency Rate:
68.37%
Interests and Fees:
6% APR
Status Update - June 11, 2018
On June 3rd, Volcan Fuego in Guatemala erupted sending pyroclastic flows down its south-eastern slopes which engulfed several villages such as San Miguel de Los Lotes and El Rodeo. More than 100 people have lost their lives and more than 200 are still missing as search & rescue efforts are on-going amidst renewed volcanic activity emanating from Fuego. 4,000 people have also been evacuated. We have contacted our partners in Guatemala and both field staff and their families are safe. Our partners are in the process of contacting their clients to ascertain the gravity of the situation and initiate disaster relief activities. We will be in touch with our partners to assess how best we can help their borrowers recover in the event some of them have been affected.
Partner description:
Pomona Impact is a small business accelerator and impact investing fund focused on social enterprises operating in Central America, Mexico, Colombia and Ecuador. Their primary activities include debt and equity investments in early-stage social enterprises and business consulting services for portfolio companies. Pomona Impact is also focused on helping foster the next generation of entrepreneurs in the region through the development of co-working spaces and skill-building programs.
Pomona Impact's portfolio partners are largely intervention-based social enterprises that seek to contribute significant benefits to people and communities at the bottom of the economic pyramid.
A unique lending approach:
With Kiva funding, Pomona Impact provides working capital loans for social enterprises located in Central America, Mexico, Colombia and Ecuador. Working capital loans are typically used by social enterprises to scale operations to new customers or locations, to purchase larger assets (tools, machinery, etc.), or provide partial financing to customers to help them purchase products or services.
Pomona Impact serves companies that demonstrate positive impact in one or more of the following ways:
- Going beyond simple job creation to creating sustainable, quality employment with the ability to gain skills and services that help lift people out of poverty over the long term
- Providing products and services for the base of the pyramid
- Furthering environmental stewardship