Kiva (organization)
Kiva is a 501c3 non-profit organization with a mission to connect people through loans for the sake of alleviating global poverty. Leveraging the internet and a worldwide network of microfinance institutions(MFIs), Kiva lets individuals lend as little as $25 to help fund small businesses run by low-income entrepreneurs around the world.
Loans made on Kiva.org are 0% interest loans and have a historical repayment rate of 96%.
Contents
* 1 How it works
* 2 Early Progress
* 3 Organization and Team
* 4 External links
How it works
Kiva partners around the world
Enlarge
Kiva partners around the world
Kiva’s model is similar to eBay. Microfinance institutions around the world post up profiles of qualified local entrepreneurs online. Lenders can then browse and choose an entrepreneur they wish to fund. Kiva aggregates loan capital from individual lenders and transfers it to MFI partners to disburse and administer. As loan repayments are made by the entrepreneur, the MFI remits funds back to Kiva. Once the loan is fully repaid, Kiva lenders can withdraw their principal or re-loan it to another entrepreneur.
Early Progress
Since concluding an initial beta round in Uganda in October 2005, Kiva has expanded to MFI partners 11 countries (see map). Kiva has also established key relationships with PayPal (free transactions) and Microsoft (research grant to enhance Kiva’s web interface with MFIs). Kiva has also received significant early coverage in the blogosphere and press. Kiva is on track to raise over $1M from +10,000 internet lenders and expand to 25 countries by the end of 2006.
Copyright: Wikipedia information about Kiva (organization)– This article is licensed under the GNU Free Documentation License. It uses material from the
Wikipedia article "Kiva (organization)". More from Wikipedia
Loans made on Kiva.org are 0% interest loans and have a historical repayment rate of 96%.
Contents
* 1 How it works
* 2 Early Progress
* 3 Organization and Team
* 4 External links
How it works
Kiva partners around the world
Enlarge
Kiva partners around the world
Kiva’s model is similar to eBay. Microfinance institutions around the world post up profiles of qualified local entrepreneurs online. Lenders can then browse and choose an entrepreneur they wish to fund. Kiva aggregates loan capital from individual lenders and transfers it to MFI partners to disburse and administer. As loan repayments are made by the entrepreneur, the MFI remits funds back to Kiva. Once the loan is fully repaid, Kiva lenders can withdraw their principal or re-loan it to another entrepreneur.
Early Progress
Since concluding an initial beta round in Uganda in October 2005, Kiva has expanded to MFI partners 11 countries (see map). Kiva has also established key relationships with PayPal (free transactions) and Microsoft (research grant to enhance Kiva’s web interface with MFIs). Kiva has also received significant early coverage in the blogosphere and press. Kiva is on track to raise over $1M from +10,000 internet lenders and expand to 25 countries by the end of 2006.
Copyright: Wikipedia information about Kiva (organization)– This article is licensed under the GNU Free Documentation License. It uses material from the
Wikipedia article "Kiva (organization)". More from Wikipedia
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