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Author Topic: Microfinanzas Prisma - Peru - Paused ???  (Read 745 times)
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tomviolence
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« on: May 18, 2014, 09:09:14 AM »

I saw Microfinanzas Prisma is listed as paused, but still have active loans listed. Is that normal ?

http://www.kiva.org/partners/71

Any other info ? I have a few delinquent loans from them at this point.
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"Famines will be famines, banquets will be banquets
Some spend winter in a palace, some spend it in blankets
Dont wag your fingers at them and turn to walk away
Dont shoot someone tomorrow that you can shoot today
Time to end the praying
Listen what they're saying"

The Housemartins - "Get up off your knees" - from "London 0 Hull 4"
Amy-in-PHX
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« Reply To This #1 on: May 22, 2014, 11:46:21 PM »

I saw Microfinanzas Prisma is listed as paused, but still have active loans listed. Is that normal ?

http://www.kiva.org/partners/71

Any other info ? I have a few delinquent loans from them at this point.


It's not normal, in that Kiva's partners are normally successful and well-run.  In this case, MFP has been having liquidity problems lately, and has failed to make some payments when they were due.  "Paused" means (in this case) MFP won't be able to post any new loans to Kiva for a while, and Kiva will be working with MFP management to see whether there is a payment plan they can work out, etc.  Kiva decided, in this case, to allow the loans MFP had already posted to the site to finish fundraising, even after Kiva had declared the "Pause."  Someone from one of my teams wrote in to Kiva contactus about it, and pretty much Kiva said that they feel there is a long and good history with this partnership, and a fair chance MFP will get back up to speed, so they let the loans that had already been posted stay on the site.

If you look at the repayment schedule of your delinquent loans, and click the button at the top left of the table that says something like "additional info" or "advanced" you will probably see that they say "Field Partner behind in repayment."  If they instead say "Borrower behind," then the reason for the late payment was something other than MFP's liquidity issue.
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We can do no great things - only small things with great love.     (Mother Teresa)
tomviolence
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Movin' to Florida
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A mile and a half on a bus takes a long time

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« Reply To This #2 on: May 24, 2014, 09:48:53 AM »

Hi

thanks for the info, yes, all my delinquents are field partner. I've had many successful loans in the past, I hope they get back on track.
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"Famines will be famines, banquets will be banquets
Some spend winter in a palace, some spend it in blankets
Dont wag your fingers at them and turn to walk away
Dont shoot someone tomorrow that you can shoot today
Time to end the praying
Listen what they're saying"

The Housemartins - "Get up off your knees" - from "London 0 Hull 4"
Amy-in-PHX
Kiva Supporter
Phoenix, AZ
*****
Gender: Female
Posts: 2925



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« Reply To This #3 on: May 24, 2014, 01:19:25 PM »

Me, too!  I used to lend in Peru a lot, but since Manuela Ramos and FINCA Peru dropped off Kiva, and Caja Rural repayment stats got so bad, and now MFP having troubles, it's getting harder to find good loans in that country.  (I have more fun lending to individuals than groups, in general, so Edaprospo and Arariwa don't really make good substitutes.  Made a few loans through Edpyme recently -- hoping those will turn out well.)
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We can do no great things - only small things with great love.     (Mother Teresa)
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