Kiva is a nonprofit organization specialized in microfinance.
"Kiva enables a world where people separated by long distances can connect through lending for the purpose of alleviating poverty, while also promoting strong, persistent interpersonal connections that improve cross-cultural understanding. Kiva’s unique model provides debt to mid- and small-sized Microfinance Institutions, offering the chance to extend coverage to new populations outside the reach of larger institutions. In its first three years, over 148,000 internet lenders made $22 million in loans to 33,000 entrepreneurs in 40 developing countries. Kiva aims to scale to one million internet lenders and over $100 million in loans by 2010. Kiva is headquartered in San Francisco, CA."(PALO ALTO, Calif.—March 11, 2008).
Kiva connects lenders to borrowers allowing the first to lend as little as $25 to the second. Once the money is repaid, lenders can re-lend their money, donate it to Kiva, or withdraw their funds. Check what various news channels have said about Kiva by clicking here.
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- Ayemi
- Hi, I am Ayemi L. and I write these blogs to share my thoughts on various topics including, but not limited to, development, political issues, international relations, and nonprofit entrepreneurship. I also write about trivial topics related to books I read, movies I watched, people I met, etc. This is my first blog. So, your comments and support will be well appreciated. I live in the U.S., hold a Master's degree in Nonprofit and International Relations, and work in the international nongovernmental sector. To contact me, please email me at lynxaye@gmail.com
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1 comment:
I like this program. Those people are receiving help to built a new life using their skills and talents with the help of those who believe in changing the world. This is way better than aid. If anyone wants to do the lending team on Kiva please let me know.
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