Kiva conducts regular, ongoing monitoring of all Lending Partners, but only posts status updates here in response to relevant, major changes at the partner.

December 31, 2020 - Update:

Due to the Covid-19 pandemic, Kiva recently re-assessed the level of risk associated with loans from this Lending Partner. During this process, our analysts gathered updated operational and financial information about the institution, and analyzed the Lending Partner’s loan products. As a result, CACMU's risk rating is now listed as 2.5 stars instead of 3.5 stars. The primary reasons for this change in rating are the issues beyond the organization's control related to the Covid-19 pandemic. 

June 9, 2020 - COVID-19 Update:

Kiva has been in contact with CACMU to understand how we can best support their business and borrowers during the ever-evolving COVID-19 pandemic. We continue to prioritize the safety and well-being of all staff, borrowers and their families as this global pandemic continues.

While country-specific responses to the crisis vary, most governments have imposed curfews, travel restrictions, and nation-wide shutdowns. Ecuador has imposed temporary moratoriums on loan payments, affecting not only microfinance, but the economy as a whole. 

As a result, borrowers and CACMU may experience difficulty making and collecting loan repayments due to the aforementioned restrictions or fallout effects of the virus. Over the coming months, it’s possible that lenders will see a delay in repayments and new loans posted by CACMU. As an impact-first funder, Kiva is committed to serving our Lending Partners, as in past crises. We are sympathetic to temporary increases in repayment delays and delinquency in order to help Lending Partners and borrower communities recover. 

Kiva is working closely with CACMU to support them and their borrowers through the COVID-19 crisis. CACMU is sending regular updates to Kiva, and we'll update Partner Pages as we learn more. 

On behalf of Kiva and CACMU, we’re grateful for your continued support through this difficult time. 

Partner description:

CACMU is a savings and loan cooperative founded in 2001 in Ecuador with the goal of providing financial and non-financial services to underserved women and their families.

The savings and loan cooperative is part of a larger group made up of several organizations offering health coverage, technical assistance, and training services for environmental conservation. CACMU provides a package of services throughout the business cycle.
 
A unique lending approach:
CACMU reaches very rural borrowers due to the creation of a mobile branch, which allows them to access remote areas where it would be too costly to open a branch. They use the mobile branch not only for financial services but also for health events that are free to members and non-members alike.