Asociación ONG Avansar
Status update - December 13th 2021
Avansar's final loans with Kiva have defaulted, and this partnership is now closed. For the last 18 months, Kiva has been working with Avansar to try to recover the remaining outstanding amounts due to Kiva lenders. Kiva’s present assessment is that this Lending Partner is unable to make further payments, and thus the remaining $2,900.64 in outstanding amounts due to Kiva lenders has been defaulted. If Kiva is able to recover any additional funds from Avansar, they will be applied to lenders' accounts on a pro-rata basis.
Kiva conducts regular, ongoing monitoring of all Lending Partners, but only posts status updates here in response to relevant, major changes at the partner.
Partner description:
Asociación ONG Avansar is a small non-profit microfinance institution focused on addressing the lack of financial services in rural eastern Colombia. In addition to providing loans to those in need of credit, Avansar offers technical assistance that includes financial education and business training to maximize productivity and competitiveness. Avansar is also involved in the administration of large scale projects such as road construction and infrastructure maintenance contracted by both public and private institutions.
A unique Lending approach:
Avansar’s unique lending approach focuses on borrowers with no credit history. Loans fundraised on Kiva carry a reduced interest rate, flexible repayment options, and are accompanied by financial education. In addition to meeting poverty level qualifications, only clients that have never had a loan before will be offered the Kiva loan product.
Repayment Performance on Kiva
| This Lending Partner | All Kiva Partners | ||
| Start Date On Kiva | Jan 4, 2016 | Oct 12, 2005 | |
|---|---|---|---|
| Total Loans | $110,650 | $2,061,712,330 | |
| Amount of raised Inactive loans | $0 | $379,125 | |
| Number of raised Inactive loans | 0 | 306 | |
| Amount of Paying Back Loans | $0 | $151,582,105 | |
| Number of Paying Back Loans | 0 | 180,570 | |
| Amount of Ended Loans | $110,650 | $1,864,456,995 | |
| Number of Ended Loans | 169 | 2,517,148 | |
| Delinquency Rate | 0.00% | 11.58% | |
| Amount in Arrears | $0 | $10,582,819 | |
| Outstanding Portfolio | $0 | $91,420,687 | |
| Number of Loans Delinquent | 0 | 34,389 | |
| Default Rate | 3.15% | 1.83% | |
| Amount of Ended Loans Defaulted | $3,488 | $34,072,925 | |
| Number of Ended Loans Defaulted | 20 | 91,307 | |
| Currency Exchange Loss Rate | 0.47% | 0.47% | |
| Amount of Currency Exchange Loss | $524 | $12,915,654 | |
| Refund Rate | 1.08% | 0.55% | |
| Amount of Refunded Loans | $1,200 | $11,263,070 | |
| Number of Refunded Loans | 2 | 9,868 |
Loan Characteristics On Kiva
| This Lending Partner | All Kiva Partners | ||
| Loans to Women Borrowers | 74.09% | 78.52% | |
|---|---|---|---|
| Average Loan Size | $654 | $393 | |
| Average Individual Loan Size | $654 | $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 | $11,100 | $5,593 | |
| Average Loan Size / GDP per capita (PPP) | 5.89% | 7.03% | |
| Average Time to Fund a Loan | 13.77 days | 9.14 days | |
| Average Dollars Raised Per Day Per Loan | $47.51 | $43.02 | |
| Average Loan Term | 18.82 months | 11.5 months |
Journaling Performance on Kiva
| This Lending Partner | All Kiva Partners | ||
| Total Journals | 19 | 1,228,670 | |
|---|---|---|---|
| Journaling Rate | 11.24% | 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 2017 data)
| This Lending Partner | Median for MFI's in Country | All Kiva Partners | ||
| Average Cost to Borrower | 19% APR | 32.00% PY | 27.12% PY | |
|---|---|---|---|---|
| Profitability (return on assets) | N/A | 5.1% | -1.71% | |
| Average Loan Size (% of per capita income) | N/A | 23.00% | 0.00% |
Country Fast Facts
- Country:
- Colombia
- Capital:
- Bogota
- Official Language:
- Spanish
- Population:
- 46,245,297
- Avg Annual Income:
- $11,100
- Labor Force:
- agriculture: 17%, industry: 21%, services: 62%
- Population Below Poverty Line:
- 32.70%
- Literacy Rate:
- 93.60%
- Infant Mortality Rate (per 1000):
- 15.02 deaths
- Life Expectancy:
- 75.25 years