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Kakbank Eriksberg (Uppsala)

These are all the journal entries from projects we've lent to.

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Entry regarding Pagamjav (28e november 2012)

Pagamjav is grateful with Kiva and their lenders' help to her business. The loan with an amount of MNT 1,700,000 disbursed by XacBank branch in Harhorin soum of Uvurhangai province, Kiva's Mongolian partner MFI, on September 17, 2010. She requested this loan to purchase second hand winter clothes and to increase income and profit. The second hand winter clothes were purchased and she sold them at local market. After that, she moved to Bat-Ulzii soum and she makes there Ger furniture. She has closed her business of second hand clothes sales. She moved to Bat-Ulzii soum and and lives there now.

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Entry regarding Reyna (29e december 2011)

Reyna, mejor

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Entry regarding Sayrabubu (26e september 2011)

rnSayrabubu and her family are very grateful and thankful to KIVA for the loan program. Sayrabubu used her loan for broadening her range of products by purchasing different kinds of fabrics. With the revenues, she bought accessory equipment and opened working places for women who are good at sewing. Today Sayrabubu's products are very popular and of great demand at her local place, which allow her to look forward with optimism and great plans for the future. rnrn

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Entry regarding Reyna (20e maj 2011)

I'm a Pittsburgh native and a public health nut that recently quit her job working in a non profit in Boston, Massachusetts to serve as a Kiva Fellow. And I was fortunate to be placed with Microfinanzas Prisma (MFP) in Lima, Peru at a very exciting moment. This year marks Prisma's 25th anniversary. Founded in 1986, Prisma is celebrating 25 years of providing social and financial services to clients in Peru. MFP, the credit department of the non-profit Prisma, was formed in 1994 "to provide integrated financial and non-financial services to disadvantaged communities to strengthen their capacities and promote sustainable social and economic development." They target the most vulnerable populations living in rural and per-urban areas and close to 30% of MFP's clients are living below Peru's national poverty line. MFP works to help clients increase their income by providing comprehensive services, which include not only financial services, but also non-financial ones, mainly education and training activities.

You are receiving this update because you have loaned money to a client of Microfinanzas Prisma. Kiva works with field partners, or microfinance organizations, around the world. Once a partnership is established, this organization can then post client profiles to the site and then you can carefully read through and select which client you want to lend to. MFP has had a successful relationship with Kiva for almost 4 years, making it one of the longest running partnerships on During this time MFP has uploaded $5,948,250 worth of loans to Kiva with a 1.41% delinquency rate and a 0% default rate.

Kiva Fellows are paired with microfinance organizations for three to four months to fulfill a variety of tasks, all of which help to promote transparency between the field partner, Kiva, and you, the lender. During my fellowship I worked to complete a borrower verification (BV) for MFP. A borrower verification is like a mini audit that happens twice to once a year depending on the length of the relationship with Kiva and the default/delinquency rates. Kiva selects a random sample of ten clients that represents an organization's portfolio and sends it to us fellows. We, in turn, visit each and every client on the list to verify that they are who they say they are, that they indeed received a loan for the amount posted on Kiva's website, and to talk to them about their business and loan use.

Unlike your traditional auditor, I have not been passing my days sitting in offices shuffling through paperwork. Instead, I have spent my three months been traveling deep into the Andes and the jungles of Peru to find the clients. I rode my first motorcycle to travel two and a half hours into the Andes, I took shared taxis that drove through rivers in the jungle and spent my days and nights traveling by bus between the headquarters in Lima and the branch offices that do the ground work of vetting and interviewing clients to appear on the website, take their photo, and write up their story.

I have met a number of amazing MFP clients during my time as a fellow, but I will never forget meeting MFP client, Rosa Vargas, in Lima my first week as a Kiva Fellow.

Rosa is 56 years old and preparing to open her own restaurant in her house in the next year. How many of you would embark on a new business in your 50's? I don't know that I would. But as Rosa explained, she had been washing clothes for neighbors. The job was physically demanding on her and not very profitable. And she believed she had great recipes to share with everyone, "recetas muy ricas" [very tasty recipes] as she described. So, she did what anyone wanting to start her own business would do. She asked around about where she could get some start up money. And she got connected with PRISMA.

I talked to Rosa in the kitchen of another building because her house was under construction. The walls were being painted and she hoped to put in tiling and tables and chairs for her customers to sit and enjoy their meal. She invited me back to her kitchen as we continued to talk. And I snapped a few shots and showed her the photos I took. She laughed and grabbed my arm as she covered her mouth with her hand. Her happiness was overwhelming for me.

I will never forget my meeting with Rosa. Part of what drew me to KIVA was the idea of female empowerment that Rosa embodies. That women, with the help of MFIs like PRISMA, can realize their dreams of owning their own business at any stage in their life and attain the financial independence to care for themselves and their children. After meeting Rosa this idea I had became a reality.

Thank you all for supporting the hardworking clients and staff of MFP. To get more involved join MFP's lending team "Friends of Microfinanzas Prisma" to receive more updates from the field.

Noreen Giga, KF14 Peru

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Entry regarding Pagamjav (16e februari 2011)

Thank you for your ongoing support of Kiva and its entrepreneurs at XacBank, a field partner in Mongolia. Just recently, XacBank marked the two year anniversary of its partnership with Kiva. Over this time, you and other lenders have assisted over 2,950 entrepreneurs with $3,400,000 USD in loans. As a Kiva Fellow, I've been working at XacBank over the past six months and want to share a few of their interesting programs – the creation of green loans, the spread of mobile banking, and the promotion of organic products.

Did you know that Ulaanbaatar is ranked the world's 5th worst city for air pollution? The World Bank estimates that 60% of the air pollution comes from household heating systems and the fuel used to keep families warm in the winter. XacBank has partnered with Micro Energy Credits to develop green loans for items such as fuel efficient stoves, solar panels, warm housing covers, and energy efficient fuels.

Oyunchimeg, one of XacBank's eco loan clients, began sewing sheets from her ger, a traditional Mongolian felt tent, in 2009. Running her small business from her home means that she must simultaneously keep a fire going in order to stay warm. At the beginning of winter, Oyunchimeg took a microloan from XacBank in order to buy more environmentally-friendly fuel in bulk. Oyunchimeg said that the new fuel helped her save money on fuel costs in the long run and also helped her run her business from home.

As well as in the environmental sector, XacBank has been innovative in the mobile banking area. XacBank created a mobile banking service named AMAR, which is available in some of the most remote areas of Mongolia. Clients no longer have to travel to one of XacBank's physical branches; Clients can use a combination of cell phones and over 3,000 cash-handling agents, such as remote grocery stores and trusted individuals, to make a variety of transactions such as depositing, withdrawing, and transferring money.

Click here to watch a short video of XacBank's AMAR mobile banking service.

Altantsetseg is both a Kiva entrepreneur and AMAR mobile banking user. She operates a small business selling meat in the capital city of Ulaanbaatar. Altantsetseg says that she's a very busy woman running her small business, and normally doesn't have too much time to go to the bank office. Since becoming a user of the AMAR mobile banking service, Altantsetseg says it has really saved her time and made her business more efficient. She can take payments and send payments to and from her partners through AMAR.

XacBank has partnered with many organizations such as the Mongolian National Chamber of Commerce, large energy businesses and national media organizations to promote a project named Organic Mongolia. This project promotes organic goods grown and produced locally in Mongolia. It supports micro-businesses by providing low interest rate loans with no collateral requirements.

In addition to the loans, the project has many activities such as mass media advertising for the organic goods, training for entrepreneurs by professionals, certification of organic goods, and large scale trade fairs. So far, Organic Mongolia has assisted a wide variety of businesses like bee farms, greenhouses, soy bean production, and animal nutrition products. Click here to watch a video of some of Organic Mongolia's activities.

Recently, all of the Organic Mongolia partners volunteered one day to assist a local greenhouse in bringing in their harvest. The XacBank team cleared the greenhouse of cucumber vines and roots, and then planted a batch of lettuce. While the team members worked in the greenhouse, the media sponsors produced a small segment to promote organic farming and organic businesses to the Mongolian public.

The staff at XacBank are committed to reducing poverty in Mongolia through innovative activities like the ones I've shared with you. Thank you again for your continued support of Kiva entrepreneurs, and, in turn, the Kiva field partners that disburse the loans in Mongolia. Please feel free to join the XacBank lending team on Kiva.

Thank you,

Amber Barger, KF14 Mongolia

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Entry regarding Paulino Fuentes Quispe (10e februari 2011)

Dear Kiva Lender,

Thank you for supporting borrowers in Peru through Asociación Arariwa. I have had the privilege of serving as a Kiva Fellow with Asociación Arariwa here in Cusco, Peru for the past three months and have been fortunate enough to meet some of Asociación Arariwa´s Kiva clients.

On my first day with Asociación Arariwa, I wondered how I would find the office without knowing how to pronounce the name. Arariwa was one of those Quechua words that escaped me until the Executive Director pointed to the mural of a man in traditional dress with a staff on the wall of one of their offices. "That is an Arariwa," he said, "the old leaders of the Andean community." More than just a leader, an Arariwa was considered to be the Andean community´s representative to nature and the gods and the guardian of the harvest. He was a wise man chosen from within the community to give advice for the harvest and to coordinate the distribution of food over the coming year.

In the same sense, Asociación Arariwa is an integral part of the Andean communities surrounding Cusco, Peru. Just as the Arariwa brought the Andean community together, Asociación Arariwa seeks to bring groups of 15-35 people together in village banks to help provide microcredit and education. The advice they give through education and training programs addresses the dangers of over-indebtedness, the importance of savings, business management strategies, health and nutrition. Additionally, Asociación Arariwa´s education, savings, and micro insurance services help the clients they serve to improve their own and their family´s quality of life.

Additionally, Asociación Arariwa´s clients are able to more easily access loans than they would be able to from traditional banks because of the lack of the requirement for physical collateral for the loan. The structure of Asociación Arariwa´s village banks also helps to empower its clients by placing them in leadership roles within the village bank and by encouraging collective responsibility. Out of all the services that Asociación Arariwa offers, just about all clients will list savings as their favorite. Asociación Arariwa helps to facilitate 3-5% of a client´s loan for savings which later grows within the village bank and is able to be lent out to group members who want a supplemental loan. All interest rates earned from these loans go straight into the client´s pockets!

On one of my visits to a village bank in Chinchero, one of the clients, Celina, explained to me how she had been working with Asociación Arariwa for the last five years, and that she joined because of her mother´s advice and because of how the saving services offered helped her to earn a little extra money. She was a good-natured woman with an incredibly cute baby who runs a restaurant selling fried trout in the Chinchero market. As we talked, she handed me a bowl of delicious rooster stew which was made to celebrate the close of the bank´s loan cycle.

Meeting entrepreneurs like Celina has made me realize the investment and impact that institutions like Asociación Arariwa make in the lives of their borrowers. Alleviation of poverty through increased access to financial services and microcredit doesn't happen overnight; Asociación Arariwa, through their microcredit, education, savings and micro insurance products, helps to sustainably improve the quality of their borrower´s lives not only for themselves but also for their children.

Kiva lenders like yourself have lent over $2,500,000 to over 6,000 Asociación Arariwa entrepreneurs over the past two and a half years. You can continue to lend to Asociación Arariwa here, or join their lending team here.

Thank you for your support!


Eric Burdullis

KF13, Asociación Arariwa, Peru

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Entry regarding Balimaya Ii Group (8e februari 2011)

La cliente a payée les intrants pour fertiliser sa parcelle, elle a aussi payée les petits équipements, les frais de sarclage et de labour. Une partie de sa production est destinée pour l'auto consommation et l'autre partie est vendue sur le marché de Dioïla, Nangola et souvent à Fana, après les récoltes à une clientèle composée d'hommes et de femmes. Elle s'est beaucoup réjouie du prêt accordé par Soro Yiriwaso et compte maintenir le bon rapport avec Soro Yiriwaso.
Le prêt a permis une augmentation de production.
Les perspectives sont bonnes car les plants ont bien donnés. Ses ambitions sont d'avoir améliorer la productivité avec une agriculture intensive tout en ayant les moyens nécessaire suffisant au moment propice compte tenue de la variance des prix des intrants à l'approche de l'hivernage. La cliente souhaite bonne collaboration entre Soro Yiriwaso et l'organisme Kiva.

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