Frogtek
Approved to post Kiva loans from: Mexico
Partner Description:
Frogtek is a for-profit social venture that makes mobile software for micro-entrepreneurs in emerging markets to better manage their finances, inventories and records. The system helps these businesses optimize profits by trimming expenses, stocking the right inventory, and more, such as providing them with a bank account.
Many micro-retailers in Frogtek’s target markets (today, Mexico and Colombia) lack financial literacy and fail to keep accounting records of expenses and sales. As a result, they remain at the subsistence level, barely making enough profit to care for themselves and their families.
Today, nearly 100 shops in each country are using Frogtek software on a tablet or smart phone. Many of these devices were purchased on credit, including some from Frogtek. The cost of the recommended hardware is such that the majority of micro-retailers can’t afford it upfront. Kiva loans would help finance purchase of these devices, allowing borrowers to use Frogtek’s software and optimize their businesses.
Frogtek’s principal software package, called Tiendatek, offers a bank account and insurance, and keeps track of expenses, income, product performance and more on a point-of-sale basis that is user-friendly and easy to learn.
Kiva loans will help micro-entrepreneurs buy a hardware package comprised of an Android tablet, wireless barcode reader, credit card reader, and printer. Loans will be offered at 0% interest with monthly repayments spread out over two years.
For its efforts to help micro-entrepreneurs grow their businesses and lift themselves out of poverty, Frogtek has received a number of awards, including Vodafone’s 2011 Mobile Clicks Best Start-up Awards, the World Economic Forum’s Young Global Leader Awards, and Columbia Business School’s Alumni Innovator Award.
Frogtek is a for-profit social venture that makes mobile software for micro-entrepreneurs in emerging markets to better manage their finances, inventories and records. The system helps these businesses optimize profits by trimming expenses, stocking the right inventory, and more, such as providing them with a bank account.
Many micro-retailers in Frogtek’s target markets (today, Mexico and Colombia) lack financial literacy and fail to keep accounting records of expenses and sales. As a result, they remain at the subsistence level, barely making enough profit to care for themselves and their families.
Today, nearly 100 shops in each country are using Frogtek software on a tablet or smart phone. Many of these devices were purchased on credit, including some from Frogtek. The cost of the recommended hardware is such that the majority of micro-retailers can’t afford it upfront. Kiva loans would help finance purchase of these devices, allowing borrowers to use Frogtek’s software and optimize their businesses.
Frogtek’s principal software package, called Tiendatek, offers a bank account and insurance, and keeps track of expenses, income, product performance and more on a point-of-sale basis that is user-friendly and easy to learn.
Kiva loans will help micro-entrepreneurs buy a hardware package comprised of an Android tablet, wireless barcode reader, credit card reader, and printer. Loans will be offered at 0% interest with monthly repayments spread out over two years.
For its efforts to help micro-entrepreneurs grow their businesses and lift themselves out of poverty, Frogtek has received a number of awards, including Vodafone’s 2011 Mobile Clicks Best Start-up Awards, the World Economic Forum’s Young Global Leader Awards, and Columbia Business School’s Alumni Innovator Award.
Repayment Performance on Kiva
| This Lending Partner | All Kiva Partners | ||
| Start Date On Kiva | Aug 3, 2012 | Oct 12, 2005 | |
|---|---|---|---|
| Total Loans | $1,725 | $2,061,427,940 | |
| Amount of raised Inactive loans | $0 | $389,200 | |
| Number of raised Inactive loans | 0 | 318 | |
| Amount of Paying Back Loans | $0 | $151,289,490 | |
| Number of Paying Back Loans | 0 | 180,128 | |
| Amount of Ended Loans | $1,725 | $1,864,455,145 | |
| Number of Ended Loans | 6 | 2,517,146 | |
| Delinquency Rate | 0.00% | 11.61% | |
| Amount in Arrears | $0 | $10,584,537 | |
| Outstanding Portfolio | $0 | $91,136,425 | |
| Number of Loans Delinquent | 0 | 34,410 | |
| Default Rate | 0.00% | 1.83% | |
| Amount of Ended Loans Defaulted | $0 | $34,072,925 | |
| Number of Ended Loans Defaulted | 0 | 91,307 | |
| Currency Exchange Loss Rate | 0.00% | 0.47% | |
| Amount of Currency Exchange Loss | $0 | $12,915,654 | |
| Refund Rate | 34.78% | 0.55% | |
| Amount of Refunded Loans | $600 | $11,263,070 | |
| Number of Refunded Loans | 3 | 9,868 |
Loan Characteristics On Kiva
| This Lending Partner | All Kiva Partners | ||
| Loans to Women Borrowers | 44.44% | 78.52% | |
|---|---|---|---|
| Average Loan Size | $258 | $393 | |
| Average Individual Loan Size | $258 | $585 | |
| Average Group Loan Size | $0 | $1,914 | |
| Average number of borrowers per group | 0 | 8.3 | |
| Average GDP per capita (PPP) in local country | $15,600 | $5,592 | |
| Average Loan Size / GDP per capita (PPP) | 1.66% | 7.03% | |
| Average Time to Fund a Loan | 0.45 days | 9.14 days | |
| Average Dollars Raised Per Day Per Loan | $570.85 | $43.02 | |
| Average Loan Term | 15.56 months | 11.5 months |
Journaling Performance on Kiva
| This Lending Partner | All Kiva Partners | ||
| Total Journals | 1 | 1,228,670 | |
|---|---|---|---|
| Journaling Rate | 16.67% | 41.93% | |
| Average Number of Comments Per Journal | 0.00 | 0.02 | |
| Average Number of Recommendations Per Journal | 0.00 | 0.55 |
Borrowing Cost Comparison (based on 2009 data)
| This Lending Partner | Median for MFI's in Country | All Kiva Partners | ||
| Average Cost to Borrower | N/A | 74.00% PY | 27.12% PY | |
|---|---|---|---|---|
| Profitability (return on assets) | N/A | 1% | -1.71% | |
| Average Loan Size (% of per capita income) | N/A | 4.00% | 0.00% |
Country Fast Facts
- Country:
- Mexico
- Capital:
- Mexico City
- Official Language:
- Spanish 92.7%, other indigenous languages 5.7%
- Population:
- 120,286,655
- Avg Annual Income:
- $15,600
- Labor Force:
- agriculture: 13.4%, industry: 24.1%, services: 61.9%
- Population Below Poverty Line:
- 52.30%
- Literacy Rate:
- 93.50%
- Infant Mortality Rate (per 1000):
- 12.58 deaths
- Life Expectancy:
- 75.43 years