Kiva.org: Loans that Change Lives
Rating: 4.32 stars 34 reviews
Issues: International, Economic Development, Microfinance
Location: 3180 18th Street Suite 201 San Francisco CA 94110 USA
Results: Time since launch (January 2006): 30 months Loans: $37 million, growing $1 million every 10 days Lenders: 270 thousand people from +70 countries Borrowers: 40 thousand entrepreneurs from +40 countries MFI Partners: 100 MFIs, growing at 3 a month Traffic: +100 thousand visitors / week Activity: Loan made every 37 seconds Risk: 97% active loans on time / 1.72% default rate (all partners) Org Size: 30 employees / +400 volunteers Leverage: Platform raises $8 for every $1 in expenses. Goal: $1 Billion from 10 million lenders in 5 years. Total value of all loans made through Kiva: $37,281,060 Number of Kiva Lenders: 320,425 Number of loans that have been funded through Kiva: 52,847 Percentage of Kiva loans that have been made to women entrepreneurs: 77.20% Number of Kiva Field Partners (microfinance institutions Kiva partners with): 89 (growing 3 a month) Number of countries Kiva Field Partners are located in: 42 Current repayment rate (all partners): 98.28% Average size of loan for funding: $480.44 Average total amount loaned per Kiva Lender (includes reloaned funds): $116.74 Average number of loans per Kiva Lender: 3.03
Target demographics: Impoverished entrepreneurs in the developing world
Direct beneficiaries per year: >40k entrepreneurs
Geographic areas served: Global
Programs: Kiva.org is the first person-to-person micro-lending Web site, creating a way for individuals to connect with and make personal loans to small businesses in developing countries. Kiva.org partners with microfinance institutions across the globe, giving them access to Kiva.org's website to post their funding needs for loans to micro-entrepreneurs. Individuals across the globe fund these loans by sending payment via PayPal. Repaid loans are returned to individual lenders. Kiva.org's ultimate beneficiaries are micro-entrepreneurs who need a loan to start or expand a small business. Kiva.org's secondary beneficiaries are microfinance institutions for whom Kiva.org both provides an additional source of debt capital and provides an average 9% savings on their cost of capital. Finally, Kiva.org provides a way for individuals to connect with micro-entrepreneurs around the world and directly participate in microfinance.
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3 people found this review helpful
I have been a Kiva lender for over three and a half years and have personally met several of the principals involved with that organization and have visited their HQ in San Francisco. This 5+ year old organization whose 600,000+ lenders have loaned out more than $ 231,000,000. to over poor entrepreneurs in 59 countrys (through 135 field partners) has 450 volunteers throughout the world.
The Kiva format used uniquely allows the lender and the borrower to communicate through the Kiva website (with text, pictures and video) and is completely transparent in all phases of the operation. I have even met one of the borrowers (Kiva includes the US as one of its lending countrys).
The cumulative payback rate to date is an amazing 98.8%.
Also Kiva takes no 'cut' of the transaction and the loan is accomplished with no transaction fee. (The transaction is provided thru Paypal at no charge!) Kiva's operation is financed primarily through donations and some grants.
It is one of the best organizations that I have ever been involved with in my 71+ years.
Visit the site www.kiva.org and you'll be happy that you did.
I've personally experienced the results of this organization in...
I have attended several of the organization's events, spoken with many of the principals and volunteers and even one borrower. All were very impressive.
If I had to make changes to this organization, I would...
I know that this box has to be filled out but I honestly can't think of any needed improvements. I would be very happy if more people knew about Kva.