Soluz Honduras is a social and environmental enterprise committed to increasing energy access for Hondurans using solar technology. By distributing solar products and related financing to provide affordable clean electricity, Soluz Honduras contributes to economic development while protecting the environment.
 
Established in 1994, Soluz Honduras is a pioneer in solar rural electrification and has provided solar electric systems and related financing to tens of thousands of rural households, enterprises, and community facilities (schools, clinics, and community centers).
 
A unique lending approach:
 
Honduras has the second lowest electrification rate in Latin America after Haiti, with 28% of households and 44% of schools lacking access to electricity. Soluz Honduras provides loans for the following borrowers:
 
·      Individual households or businesses for the purchase of solar products tailored for their needs and budget.
·      Micro-entrepreneurs to finance solar product inventory to help them build their own solar product distribution businesses.
 
Kiva funding will help Soluz Honduras expand its credit program to serve deeper into the base of the economic pyramid and to open up new markets for solar products that serve the poor. 

Repayment Performance on Kiva

    This Lending Partner All Kiva Partners
  Start Date On Kiva Jun 21, 2014 Oct 12, 2005
Total Loans $1,261,250 $2,061,712,330
Amount of raised Inactive loans $0 $379,125
Number of raised Inactive loans 0 306
Amount of Paying Back Loans $233,025 $151,582,105
Number of Paying Back Loans 438 180,570
Amount of Ended Loans $1,028,225 $1,864,456,995
Number of Ended Loans 1,008 2,517,148
Delinquency Rate 0.60% 11.58%
Amount in Arrears $803 $10,582,819
Outstanding Portfolio $126,114 $91,420,687
Number of Loans Delinquent 26 34,389
Default Rate 0.12% 1.83%
Amount of Ended Loans Defaulted $1,220 $34,072,925
Number of Ended Loans Defaulted 7 91,307
Currency Exchange Loss Rate 0.24% 0.47%
Amount of Currency Exchange Loss $3,464 $12,915,654
Refund Rate 0.18% 0.55%
Amount of Refunded Loans $2,300 $11,263,070
Number of Refunded Loans 1 9,868

Loan Characteristics On Kiva

    This Lending Partner All Kiva Partners
  Loans to Women Borrowers 43.70% 78.52%
Average Loan Size $870 $393
Average Individual Loan Size $874 $585
Average Group Loan Size $213 $1,914
Average number of borrowers per group 4 8.3
Average GDP per capita (PPP) in local country $4,800 $5,593
Average Loan Size / GDP per capita (PPP) 18.12% 7.03%
Average Time to Fund a Loan 2.13 days 9.14 days
Average Dollars Raised Per Day Per Loan $409.12 $43.02
  Average Loan Term 15.35 months 11.5 months

Journaling Performance on Kiva

    This Lending Partner All Kiva Partners
  Total Journals 1,054 1,228,670
  Journaling Rate 93.31% 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 18% APR 36.00% PY 27.12% PY
  Profitability (return on assets) -7.99% 2.2% -1.71%
  Average Loan Size (% of per capita income) N/A 41.00% 0.00%

Country Fast Facts

Country:
Honduras
Capital:
Tegucigalpa
Official Language:
Spanish
Population:
8,598,561
Avg Annual Income:
$4,800
Labor Force:
agriculture: 39.2%, industry: 20.9%, services: 39.8%
Population Below Poverty Line:
60.00%
Literacy Rate:
85.10%
Infant Mortality Rate (per 1000):
18.72 deaths
Life Expectancy:
70.91 years

Lending Partner Staff

Isabel Chavez
Richard Hansen
Ribelino Pastrana
Paola Rodriguez