Summit Vision Microfinance Services Limited
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:
Summit Vision Microfinance Services Ltd (SVMF) is a licensed microfinance institution founded in 2010 with the main mission of providing microfinance services to individuals,MSMEs and small holder farmers in Ghana. Summit Vision MF uses both group-based and individual lending methodologies with a diversified range of products designed to penetrate the Ghanaian open markets and the rural agricultural sectors. Access to these loans enables underserved communities to grow their businesses and improve agricultural productivity and overall quality of life.
A unique lending approach:
Summit Vision Microfinance uses Kiva funding to provide agricultural input loans to smallholder farmers. The loans are for the purchase of farm inputs and the loans are disbursed in kind to a certified input dealer. The funding will enable small-scale farmers to improve their access to high-quality inputs and increase their productivity which in turn generates more income.
Repayment Performance on Kiva
| This Lending Partner | All Kiva Partners | ||
| Start Date On Kiva | Aug 21, 2023 | Oct 12, 2005 | |
|---|---|---|---|
| Total Loans | $213,700 | $2,046,857,240 | |
| Amount of raised Inactive loans | $0 | $329,125 | |
| Number of raised Inactive loans | 0 | 224 | |
| Amount of Paying Back Loans | $80,325 | $154,628,025 | |
| Number of Paying Back Loans | 43 | 186,271 | |
| Amount of Ended Loans | $133,375 | $1,851,013,910 | |
| Number of Ended Loans | 79 | 2,491,542 | |
| Delinquency Rate | 31.81% | 12.11% | |
| Amount in Arrears | $25,550 | $11,277,316 | |
| Outstanding Portfolio | $73,181 | $93,149,537 | |
| Number of Loans Delinquent | 15 | 54,545 | |
| Default Rate | 0.00% | 1.82% | |
| Amount of Ended Loans Defaulted | $0 | $33,742,451 | |
| Number of Ended Loans Defaulted | 0 | 88,997 | |
| Currency Exchange Loss Rate | 11.50% | 0.47% | |
| Amount of Currency Exchange Loss | $24,580 | $12,725,634 | |
| Refund Rate | 0.00% | 0.53% | |
| Amount of Refunded Loans | $0 | $10,938,345 | |
| Number of Refunded Loans | 0 | 9,670 |
Loan Characteristics On Kiva
| This Lending Partner | All Kiva Partners | ||
| Loans to Women Borrowers | 80.47% | 78.48% | |
|---|---|---|---|
| Average Loan Size | $879 | $393 | |
| Average Individual Loan Size | $1,065 | $586 | |
| Average Group Loan Size | $3,392 | $1,910 | |
| Average number of borrowers per group | 4.4 | 8.3 | |
| Average GDP per capita (PPP) in local country | $3,500 | $5,593 | |
| Average Loan Size / GDP per capita (PPP) | 25.13% | 7.02% | |
| Average Time to Fund a Loan | 17.54 days | 9.12 days | |
| Average Dollars Raised Per Day Per Loan | $50.15 | $43.09 | |
| Average Loan Term | 7.69 months | 11.5 months |
Journaling Performance on Kiva
| This Lending Partner | All Kiva Partners | ||
| Total Journals | 0 | 1,221,186 | |
|---|---|---|---|
| Journaling Rate | 0.00% | 41.91% | |
| 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 | N/A | 26.44% PY | |
|---|---|---|---|---|
| Profitability (return on assets) | 0.34% | N/A | -1.28% | |
| Average Loan Size (% of per capita income) | N/A | N/A | 0.00% |
Country Fast Facts
- Country:
- Ghana
- Capital:
- Accra
- Official Language:
- Asante 14.8%, Ewe 12.7%, Fante 9.9%, Boron (Brong) 4.6%, Dagomba 4.3%, Dangme 4.3%, Dagarte (Dagaba) 3.7%, Akyem 3.4%, Ga 3.4%, Akuapem 2.9%
- Population:
- 25,758,108
- Avg Annual Income:
- $3,500
- Labor Force:
- agriculture: 56%, industry: 15%, services: 29%
- Population Below Poverty Line:
- 28.50%
- Literacy Rate:
- 71.50%
- Infant Mortality Rate (per 1000):
- 38.52 deaths
- Life Expectancy:
- 65.75 years
Lending Partner Staff
Godfred Adu GyamfiFrank Osei Boadu