Kiva (organization)

Last updated

Kiva Microfunds
FoundedOctober 2005 (2005-10)
71-0992446
FocusEconomic development
Location
Area served
World-wide
Method Microcredit
Key people
Revenue (2015)
$19,847,885 [1]
Expenses (2015)$15,915,830
Endowment $27,389,839
Staff (2015)
117
Volunteers (2015)
450
Website kiva.org

Kiva Microfunds is a 501(c)(3) non-profit organization [2] [3] headquartered in San Francisco, California. Kiva's mission is "to expand financial access to help underserved communities thrive." [4]

Contents

Kiva distributes funds that it receives to microfinance institutions, social impact businesses, schools or non-profit organizations [5] [6] and does not generally directly provide funds to specific individuals. [7] These organizations are charged fees by Kiva and borrowers pay interest on most loans. [8]

Kiva is supported by grants, loans, and donations from its users, corporations, and national institutions. [9] Since 2005, Kiva has crowd-funded more than 1.6 million loans, totaling over $1.68 billion, [4] with a repayment rate of 96.3 percent. [4] Over 2 million lenders worldwide use the Kiva platform. [4] Despite its size, independent review by GiveWell in 2009 failed to find evidence that the organization produces significant social benefit, [7] with at least one partner supposedly vetted by Kiva earning high profits while having a very high recipient drop-out rate. [10]

History

Early Kiva field partners (September 2006) Kiva worldwide map.jpg
Early Kiva field partners (September 2006)

Kiva was founded in October 2005 by Matt Flannery and Jessica Jackley. [11] The couple's initial interest in microfinance was inspired by a 2003 lecture given by Grameen Bank's Muhammad Yunus at Stanford Business School. Jackley worked at the school and invited Flannery to attend the presentation. Soon after, Jackley began working as a consultant for the nonprofit Village Enterprise, which worked to help start small businesses in East Africa. While Flannery was visiting Jackley in Africa, the two spent time interviewing entrepreneurs about the problems they faced in starting ventures and found the lack of access to start-up capital was a common theme. After returning from Africa, the two began developing their plan for a microfinance project that would grow into Kiva, which means "unity" in Swahili. [12] [13]

In April 2005, Kiva's first seven loans were funded, totaling $3,500, and the original entrepreneurs were subsequently deemed the "Dream Team". [14]

Lending process

Kiva works with more than 300 microfinance institutions, social impact businesses, schools and non-profit organizations around the world, called "Field Partners", that post profiles of qualified local entrepreneurs on the Kiva website. Lenders browse borrower profiles on kiva.org and choose an entrepreneur they wish to fund. The lenders transfer their funds to Kiva through credit card processing or PayPal, which waives its transaction fee in these cases. [15] Lenders can loan money in increments of $25.

After receiving lenders' money, Kiva aggregates loan capital from the individual lenders and transfers it to the appropriate Field Partners, which disburse the loan to the borrower. Kiva does not charge interest on the capital sent to Field Partners, but often Field Partners do charge some level of interest to borrowers to cover administration costs. [16] Interest is typically higher on loans from microfinance institutions in developing countries than interest rates on larger loans in developed countries because of the administrative costs of overseeing many tiny loans, and the increased risk. [17] As the entrepreneurs repay their loans with interest, the Field Partners remit funds back to Kiva. As the loan is repaid, the Kiva lenders can withdraw their principal or re-lend it to another entrepreneur.

Finances

As of March 15, 2016, Kiva had distributed $827,356,850 in loans from 1,394,336 lenders to 1,928,760 borrowers, and a total of 1,036,558 loans had been funded through Kiva. The average loan size is $411.26, and the average Kiva user has made 10.17 loans. Kiva's current repayment rate for all its partners is 97.1%. [18]

For the fiscal year 2012, Kiva made $15,632,786 in total revenue and had $12,482,528 in total expenses, leaving $3,150,258 to invest. The organization's net assets in 2012 totaled $16,248,638. [19] Kiva itself does not charge interest on its loans; they supply capital to microfinancing institutions for free. These microfinancing institutions then lend out money with high interest compared to bank finance in mature markets, averaging a portfolio yield of over 30%. [20] The organization's main sources of funding are grants, financial backing, and discounted services from many major national corporations and institutions. Chevron Corporation, Visa Inc., and Skoll Foundation awarded Kiva a two-year $1 million grant, $1.5 million grant, and $1 million grant respectively. Kiva also won a $1 million grant in Sam's Club's "Giving Made Simple" campaign and $500,000 in American Express's "Take Part" competition. Additionally, Omidyar Network awarded Kiva a $5 million grant over five years to help Kiva expand its field partners and support due diligence. [9]

Management

In 2023, according to their 990 tax form, Kiva CEO Neville Crawley's salary was $424,238. Their total revenue in 2023 was $34.7M. The non-profit had thirteen staff members with salaries ranging from $200,000 to over $400,000 that year. Kiva began paying interns in 2019. [1]

Areas of work and loan use

Female-owned businesses

As of October 2017, 81% of Kiva's loans have been made to women. [21]

In their non-fiction book Half the Sky , Nicholas D. Kristof and Sheryl WuDunn highlight Kiva's work along with that of some field partner organizations, such as the Kashf Foundation in Pakistan. Kristof and WuDunn noted the risky nature of microloans as a path out of poverty, but endorsed Kiva and similar microfinance efforts, writing that "microfinance has done more to bolster the status of women, and to protect them from abuse, than any laws could accomplish." [22]

Green loans

In 2011 Kiva added a new category of loans to help borrowers move to cleaner and safer forms of energy, green agriculture, transport and recycling. [23] Green Kiva loans help fund solar panels, organic fertilizers, high-efficiency stoves, drip irrigation systems, and biofuels. As of December 2013, Kiva lenders had crowd-funded 4,600 green loans. [24]

Support for higher education

In 2010, Kiva began a Student Microloans program that allowed lenders to help support students seeking access to higher education. [25] Student loans are funded with the same crowd-funding approach, and typically students have 1–3 years to pay back their loans.

In 2014, the education offerings on Kiva expanded greatly when the organization began a deeper partnership with Vittana. [26] Vittana works on the ground in countries in Asia, Africa and Latin America, developing loan alternatives for low-income students. Through the partnership, all loans sourced by Vittana now appear on Kiva for funding.

Medical loans

Some Kiva field partners, such as Alivio Capital, specialize in funding medical loans. [27] Others may fund medical loans as well as other loans. [28] [29] A development scholar in Ghana has suggested that microfinance medical loans can be an effective way to close the gap in medical care access in developing countries. [30]

Support for refugees

In July 2017, Kiva launched a World Refugee Fund, a $250,000 matching fund to provide support to refugees and host communities in countries including Lebanon, Jordan, and Turkey. As refugees repay the loans, they build a track record in their new locations. The fund is to be followed by a rotating fund of up to $9M in loan capital. [31]

Other Kiva programs

Kiva U.S.

In 2011, Kiva launched Kiva U.S., a 0% interest peer-to-peer lending pilot program for entrepreneurs in the United States, as part of efforts to "cut lending costs through technology". [32] The loans posted to Kiva U.S. are often from borrowers who have been rejected for loans by traditional banking institutions, but on Kiva U.S. they do not need to be able to produce high credit scores or collateral. [32] Kiva U.S. uses a system of trustees, who vouch for the borrowers. [33] Kiva U.S. trustees can be local non-profits, service organizations, businesses, faith organizations or community leaders. [33]

The average loan size for US borrowers is $5,000. [34] US borrowers average about two years to repay loans. [32]

Kiva Labs

Google awarded a $3 million Global Impact Award to Kiva in 2013 to fund the Kiva Labs project, which looks for ways to increase the flexibility and impact of microfinance. [35] Labs initiatives include lowering interest rates, providing more flexible repayment terms that accommodate issues like seasonal profits in farming, and offering longer-term loans for investments like education. [35] Labs also focuses on providing access to clean energy technology and using mobile technology in ways that will bridge the knowledge gap. At the time of the lab's launch, Kiva lenders had crowdfunded "132,000 agricultural loans; 4,600 green loans, and 670 mobile tech loans." [36]

Kiva City

Kiva City provides local business owners and entrepreneurs in U.S. cities with the opportunity to crowdsource loans. [37] It was launched by Kiva and former US President Bill Clinton at the Clinton Global Initiative America conference in Chicago in 2011. [38] Kiva City locations include: Detroit, New Orleans, Los Angeles, Washington D.C., Newark, Richmond, Little Rock, Pittsburgh, Philadelphia, Milwaukee, Louisville, San Francisco, New York City, and Oakland.

In less than a year, the Kiva City programs in Richmond, Virginia, helped fund more than $100,000 in loans to local businesses. [39]

Controversies

Interest rates

As of November 2018, a total of 1,530,180 loans had been funded on Kiva. [40] The following table shows these loans sorted according to interest rate.

Interest rateNumber of loans
0%150,615
0.5-10%5,570
10.5-20%152,926
20.5-30%387,677
30.5-40%334,205
40.5-50%330,354
50.5-60%116,154
60.5% +51,026
No interest rate listed1,653
Total1,530,180

Some people, including microfinance pioneer Muhammad Yunus, argue that the interest rates of many microcredit institutions are unreasonably high. In his 2007 book he argues that microfinance institutions that charge more than 15% above their long-term operating costs should face penalties. [41]

According to its web site, Kiva quotes interest rates as the "self reported average rate charged by the Field Partner to the entrepreneur." [42] Kiva does not publish the interest rates charged for the individual loans funded through its website. However, it does publish the average "Portfolio Yield" of each of its field partners, as a way for prospective lenders to estimate the cost to the borrower of the loans they consider funding. The "Portfolio Yield" measures the average income earned from the field partner's outstanding loan portfolio. [43] Some observers have pointed out that the "Portfolio Yield" measure is unreliable, and does not directly reflect the actual price that borrowers are paying for the loans. [44]

Kiva defends the interest rates of its field partners, however, saying its field partners provide much better rates than local alternatives, but must charge what they do because "the costs of making a micro-loan in the developing world are higher versus larger loans in the West." [42] Kiva itself does not keep any of the interest collected, but operates instead exclusively on donations. [45]

For example, in 2009, micro-loans from Kiva partners in Guatemala averaged 23.16% for the equivalent of US$430 lent on average, comparable to the commercial BanRural rate of 24.5% for a loan of US$635. [46] (For reference, the inflation rate for Guatemala typically varies between 5 and 10% and was just 0.62% in 2009). [47]

Kiva launched a more direct peer-to-peer microlending platform, called Kiva Zip, in 2012. Kiva Zip transferred funds directly to borrowers without outsourcing disbursements and repayment collection to field partners. Instead, the program partnered with local institutions in the United States and Kenya called Trustees, who vetted loan applicants and provided mentorship. [48] Kiva Zip borrowers did not pay any interest or fees and the repayment rate was 89.4%. [49] As of March 13, 2017, the Kiva Zip subdomain redirects to the Kiva homepage, and the program appears to be discontinued. [50]

Interest rates by field partner

As of November 2018, there are a total of 332 field partners listed on the Kiva website and their status is as follows: 173 Active, 41 Inactive, 14 Paused, and 104 Experimental. In addition, 178 former field partners are listed as Closed. [51]

The following table shows the "portfolio yield" of a sampling of field partners. "Portfolio yield" figures are calculated by dividing all interest and fees paid by borrowers to the field partner by the average loan portfolio of the field partner that given year. The figure provides a more accurate insight into the costs of borrowing because it includes fees associated with borrowing.

Pre-disbursement of funds

When Kiva began, borrowers had to wait until their loans were funded on the Kiva website to receive the funds. Since then, the system has changed, so that loans are disbursed to borrowers before their stories are posted to Kiva's website. [52] [53] Disbursing loans sooner has a positive impact on the borrowers, who no longer need to wait weeks to receive their funding and can thus take advantage of time-sensitive business opportunities. This is disclosed on Kiva's site; each loan proposal states whether funds were pre-disbursed. Thus, lenders' loan funds are likely to go to borrowers other than those chosen by the lenders. [52] However, since the pay-back behaviour of the specific borrower chosen by the lender does influence whether or not the lender gets their funds back (except when an MFI has chosen to cover for borrower defaults), there is at least some connection between the lender and the specific borrower. Whether lenders' preferences are used for lender preference trend analysis by any field partners or Kiva is not stated. Kiva's response has been to keep pre-disbursing but be clearer about the process. [54]

Full-repayment frequency uncertainty

Whether defaults are extremely low has been questioned on the ground that a field partner may pay Kiva for loans defaulted to the field partner in order to maintain the field partner's good credit with Kiva. [52] Whether interest rates collected by field partners are enough to pay for significant defaults depends on local economic conditions for each field partner.

Controversial loans

In 2008, Kiva featured the borrowing profile of a Peruvian woman asking for a loan to buy equipment for her cockfighting business. [55] [56] This sparked debate among the Kiva lending community; many complained that the organization was promoting cruelty to animals. Matt Flannery defended Kiva's decision to allow the post to remain; he asserted that removing the post would be "paternalistic" and that "Cockfighting in Peru is legal and part of a rich cultural tradition," adding that lenders could "be the ones voting with their dollars." [55]

Promotions and marketing strategies

In March 2012, Reid Hoffman, LinkedIn's co-founder, lent Kiva $1 million. Kiva then allowed 40,000 people to lend $25 for "free". Lenders still choose a borrower, but the borrower will pay back Hoffman instead of the lender who chose them. Kiva hopes that the "free" users will lend to more of their projects, and thus increase their overall user base. [57]

In his 2007 book Giving: How Each of Us Can Change the World , Bill Clinton covers Kiva.org and the work the organization is currently doing and has done in the past.

External reviews

The following independent entities have reviewed Kiva.

See also

Related Research Articles

<span class="mw-page-title-main">Microcredit</span> Small loans to impoverished borrowers

Microcredit is the extension of very small loans (microloans) to impoverished borrowers who typically lack collateral, steady employment, or a verifiable credit history. It is designed to support entrepreneurship and alleviate poverty. Many recipients are illiterate, and therefore unable to complete paperwork required to get conventional loans. As of 2009 an estimated 74 million people held microloans that totaled US$38 billion. Grameen Bank reports that repayment success rates are between 95 and 98 percent.

<span class="mw-page-title-main">Microfinance</span> Provision of microloans to poor entrepreneurs and small businesses

Microfinance is a category of financial services targeting individuals and small businesses who lack access to conventional banking and related services. Microfinance includes microcredit, the provision of small loans to poor clients; savings and checking accounts; microinsurance; and payment systems, among other services. Microfinance services are designed to reach excluded customers, usually poorer population segments, possibly socially marginalized, or geographically more isolated, and to help them become self-sufficient. ID Ghana is an example of a microfinance institution.

<span class="mw-page-title-main">Grameen Bank</span> Bank and microfinancer in Bangladesh

Grameen Bank is a microfinance specialized community development bank founded in Bangladesh. It makes small loans to the impoverished without requiring collateral.

Predatory lending refers to unethical practices conducted by lending organizations during a loan origination process that are unfair, deceptive, or fraudulent. While there are no internationally agreed legal definitions for predatory lending, a 2006 audit report from the office of inspector general of the US Federal Deposit Insurance Corporation (FDIC) broadly defines predatory lending as "imposing unfair and abusive loan terms on borrowers", though "unfair" and "abusive" were not specifically defined. Though there are laws against some of the specific practices commonly identified as predatory, various federal agencies use the phrase as a catch-all term for many specific illegal activities in the loan industry. Predatory lending should not be confused with predatory mortgage servicing which is mortgage practices described by critics as unfair, deceptive, or fraudulent practices during the loan or mortgage servicing process, post loan origination.

<span class="mw-page-title-main">Accion International</span> International nonprofit organization

Accion is an international nonprofit. Founded as a community development initiative serving the poor in Venezuela, Accion is known as a pioneer in the fields of microfinance and fintech impact investing.

Opportunity International is a 501(c)(3) nonprofit organization chartered in the United States. Through a network of 47 program and support partners, Opportunity International provides small business loans, savings, insurance and training to more than 14 million people in the developing world. It has clients in more than 20 countries and works with fundraising partners in the United States, Australia, Canada, Germany, Switzerland, Singapore, Hong Kong and the United Kingdom. Opportunity International has 501(c)(3) status as a tax-exempt charitable organization in the United States under the US Internal Revenue Code.

Prosper Marketplace, Inc. is a San Francisco, California-based financial services company. Prosper Funding LLC, one of its subsidiaries, operates Prosper.com, a website where individuals can request to borrow money, open a credit card, or invest in personal loans.

Peer-to-peer lending, also abbreviated as P2P lending, is the practice of lending money to individuals or businesses through online services that match lenders with borrowers. Peer-to-peer lending companies often offer their services online, and attempt to operate with lower overhead and provide their services more cheaply than traditional financial institutions. As a result, lenders can earn higher returns compared to savings and investment products offered by banks, while borrowers can borrow money at lower interest rates, even after the P2P lending company has taken a fee for providing the match-making platform and credit checking the borrower. There is the risk of the borrower defaulting on the loans taken out from peer-lending websites.

<span class="mw-page-title-main">Lift Above Poverty Organization</span> Nigerian organisation

LAPO is a Nigerian organisation with a microfinance bank dedicated to self-employment through microfinance and an NGO, a non-governmental, non-profit community development organization focused on the empowerment of the poor and the vulnerable.

Bharat Financial Inclusion Limited or BFIL is a banking & finance company (NBFC), licensed by the Reserve Bank of India. It was founded in 1997 by Vikram Akula, who served as its executive chair until working. The company's mission is to provide financial services to the poor under the premise that providing financial service to poor borrowers helps to alleviate poverty. In 2011, the company operated across 11 Indian states.

LendingClub is a financial services company headquartered in San Francisco, California. It was the first peer-to-peer lender to register its offerings as securities with the Securities and Exchange Commission (SEC), and to offer loan trading on a secondary market. At its height, LendingClub was the world's largest peer-to-peer lending platform. The company reported that $15.98 billion in loans had been originated through its platform up to December 31, 2015.

<span class="mw-page-title-main">Jessica Jackley</span> American entrepreneur (born 1977)

Jessica Erin Jackley is an American entrepreneur who co-founded Kiva and later ProFounder, two organizations that promote development through microloans.

<span class="mw-page-title-main">Wokai</span>

Wokai was an organization that allowed people to contribute directly to microfinance institutions in China, which in turn lend the money to entrepreneurs in rural China. It was a 501(c)(3) non-profit organization based in Oakland, California, with core operations in Beijing, supported by individual donors, corporate sponsors, fundraising events and grants. As of May 2012, Wokai concluded operations due to funding roadblocks and the need for a new CEO.

Zidisha allows people to lend small amounts of money directly to entrepreneurs in developing countries. It is the first peer-to-peer microlending service to link borrowers and lenders across international borders without a local microfinance institution intermediary. The organization is named after the Swahili word zidisha, which means "grow" or "expand".

<span class="mw-page-title-main">Premal Shah</span> Indian-American entrepreneur

Premal Shah is an Indian-American entrepreneur who co-founded Kiva, a global poverty alleviation non-profit that has raised over $1 billion for low-income entrepreneurs in eighty countries.

Energy in Common (EIC) was a not-for-profit organization issuing microloans specifically and only for renewable energy technologies. It operated between 2009 and 2013 when it suspended its lending activity due to a lack of funds.

<span class="mw-page-title-main">Vittana</span> Organization for student loans, 2008–2014

Vittana was a non-governmental organization that allowed people to lend money via the Internet to students in the developing world. It was a 501(c)(3) non-profit organization headquartered in Seattle. Vittana focused on student loans because student loans are nearly unavailable in developing countries.

The impact of microcredit is a subject of much controversy. Proponents state that it reduces poverty through higher employment and higher incomes. This is expected to lead to improved nutrition and improved education of the borrowers' children. Some argue that microcredit empowers women. In the US and Canada, it is argued that microcredit helps recipients to graduate from welfare programs. Critics say that microcredit has not increased incomes, but has driven poor households into a debt trap, in some cases even leading to suicide. They add that the money from loans is often used for durable consumer goods or consumption instead of being used for productive investments, that it fails to empower women, and that it has not improved health or education.

Microfinance in Kenya consists of microfinance facilities and regulations in Kenya which has been developing since the mid 1990s. Legislation was passed in 2006 with the Micro Finance Act which became active in 2008. By 2010 there were more than twenty large micro finance institutions in Kenya, which provided US $1.5 billion to approximately 1.5 million active borrowers. With over 100,000 clients, Equity Bank Kenya had the largest share of business loans representing market share of 73.50% followed by Kenya Women Microfinance Bank with 12.06%. Most microfinance firms as in other countries have eligibility criteria which may include gender, age, a valid Kenyan ID, a business, an ability to repay the loan and be a customer of the institution.

Akhuwat Foundation is a nonprofit organization based in the country of Pakistan that provides interest-free loans to individuals who are unable to access formal financial services. It was founded in 2003 by Dr. Muhammad Amjad Saqib who is the executive director of the organization. Akhuwat's head office is located in Lahore and it has over 3 branches across 1,500 cities in Pakistan.

References

  1. 1 2 "Kiva Microfunds". ProPublica. May 9, 2013. Archived from the original on August 10, 2018. Retrieved September 4, 2017.
  2. ↑ "What kind of organization is Kiva?". Archived from the original on September 4, 2022. Retrieved January 10, 2012.
  3. ↑ "Kiva Terms of Use Agreement". Kiva. December 19, 2022. Retrieved August 15, 2023.
  4. 1 2 3 4 "About". Kiva. Archived from the original on August 10, 2018. Retrieved December 8, 2020.
  5. ↑ "About Us". Kiva.org. Archived from the original on April 28, 2015. Retrieved April 25, 2013.
  6. ↑ "How to become a Field Partner". Kiva.org. Archived from the original on May 13, 2013. Retrieved March 28, 2013.
  7. 1 2 "Celebrated charities that we don't recommend". December 28, 2009. Archived from the original on January 24, 2022. Retrieved January 24, 2022.
  8. ↑ "How Kiva works". Archived from the original on August 10, 2018. Retrieved December 6, 2019.
  9. 1 2 "Supporters". Kiva.org. Archived from the original on August 11, 2007. Retrieved April 1, 2012.
  10. ↑ "LAPO (Kiva partner) and financial vs. Social success". December 9, 2009. Archived from the original on January 24, 2022. Retrieved January 24, 2022.
  11. ↑ Flannery, Matt (2007). "Kiva and the Birth of Person to Person Microfinance" (PDF). MIT Press. Archived (PDF) from the original on March 7, 2012. Retrieved April 4, 2012.
  12. ↑ Flannery, M. (2007). "Kiva and the Birth of Person-to-Person Microfinance". Innovations: Technology, Governance, Globalization. 2 (1–2): 31–56. doi: 10.1162/itgg.2007.2.1-2.31 . S2CID   57566448.
  13. ↑ Narang, Sonia (2006). "Web-Based Microfinancing". New York Times Magazine. Archived from the original on December 1, 2017. Retrieved January 10, 2012.
  14. ↑ "History". Kiva.org. Archived from the original on April 12, 2012. Retrieved April 5, 2012.
  15. ↑ "When I pay through PayPal, is PayPal taking a fee?". Archived from the original on September 4, 2022. Retrieved January 10, 2012.
  16. ↑ "Do Kiva.org's Field Partners charge interest to the borrowers?". Archived from the original on September 4, 2022. Retrieved January 10, 2012.
  17. ↑ "Why are microcredit interest rates higher than traditional interest rates?". MicroWorld. Archived from the original on March 18, 2014. Retrieved March 18, 2014.
  18. ↑ "KIVA Stats". Kiva.org. Archived from the original on July 11, 2015. Retrieved March 15, 2016.
  19. ↑ "Return of Organization Exempt From Income Tax" (PDF). Department of the Treasury Internal Revenue Service. Archived (PDF) from the original on April 19, 2014. Retrieved April 18, 2014.
  20. ↑ Kiva Responds: The famed microlender replies to Hugh Sinclair's scathing critique Archived July 12, 2017, at the Wayback Machine , nextbillion.com, 12 February 2014
  21. ↑ "Impact". Kiva.org. Archived from the original on November 9, 2018. Retrieved November 13, 2018.
  22. ↑ Kristof, Nicholas D.; Sheryl WuDunn (2009). Half the Sky . New York: Vintage Books. ISBN   978-0-307-38709-7.
  23. ↑ Byrne, Ciara (April 22, 2011). "Micro-lending site Kiva goes green". Venturebeat. Archived from the original on October 26, 2016. Retrieved September 2, 2017.
  24. ↑ Alois, JD (December 13, 2013). "Kiva Labs to Generate $25 Million in Crowdfunded Loans for Clean Energy, Mobile Technology, and Agriculture". Archived from the original on April 23, 2014. Retrieved March 14, 2014.
  25. ↑ Rao, Leena (September 20, 2010). "Kiva Adds Student Loans To Microlending Marketplace". Archived from the original on November 3, 2017. Retrieved June 25, 2017.
  26. ↑ Farr, Christina (February 25, 2014). "Kiva and Vittana partner to crowdfund loans for students in developing nations". Archived from the original on November 5, 2017. Retrieved September 2, 2017.
  27. ↑ "Alivio Capital, Funded". Kiva.org. Archived from the original on November 15, 2018. Retrieved November 12, 2018.
  28. ↑ "IMON International, Health+Funded". Kiva.org. Archived from the original on November 15, 2018. Retrieved November 12, 2018.
  29. ↑ "Al Majmoua, Health+Funded". Kiva.org. Archived from the original on November 15, 2018. Retrieved November 12, 2018.
  30. ↑ Ofori-Adjei, A. B. (December 2007). "Microfinance: An Alternative Means of Healthcare Financing for the Poor" (PDF). Ghana Medical Journal. 41 (4): 193–194. PMC   2350115 . PMID   18464902. Archived (PDF) from the original on November 15, 2018. Retrieved November 15, 2018.
  31. ↑ Price, Susan. "Lending Pioneer Kiva Hits The One Billion Mark And Launches A Fund For Refugees". Forbes. Archived from the original on July 6, 2017. Retrieved July 14, 2017.
  32. 1 2 3 Said, Carolyn (August 11, 2013). "Kiva Zip loans aid low-income U.S. entrepreneurs". Archived from the original on April 24, 2014. Retrieved March 27, 2014.
  33. 1 2 Todd, Deborah. "Pittsburgh pilot program to help finance entrepreneurs morphs into Kiva City". Archived from the original on March 28, 2014. Retrieved March 27, 2014.
  34. ↑ Tascarella, Patty. "Kiva City Pittsburgh aims to lend to 100 entrepreneurs within first year". Archived from the original on July 14, 2014. Retrieved March 27, 2014.
  35. 1 2 Dolan, Kerry. "Microlender Kiva Gets $3M Grant From Google; Aims To Tackle Microfinance 2.0". Forbes . Archived from the original on December 17, 2013.
  36. ↑ "Kiva.org Receives $3 Million Google Global Impact Award to Launch Kiva Labs". finance.yahoo.com. Archived from the original on July 15, 2014. Retrieved March 27, 2014.
  37. ↑ Ferenstein, Gregory (March 22, 2013). "Kiva Piloting Microlending For U.S. Small Biz, Clinton Says It's 'A Very Big Deal'". Archived from the original on September 9, 2017. Retrieved June 25, 2017.
  38. ↑ Loten, Angus (June 29, 2011). "Clinton Launches Micro-Lending Drive". Wall Street Journal. Archived from the original on September 9, 2017. Retrieved August 4, 2017.
  39. ↑ Geiger, Jacob (March 24, 2014). "Kiva Zip loan program has lent $100k since launch". Archived from the original on September 4, 2022. Retrieved March 27, 2014.
  40. ↑ "Funded Loans". Kiva.org. Archived from the original on November 13, 2018. Retrieved November 12, 2018.
  41. ↑ Yunus, Muhammad (2007). Creating a World Without Poverty: Social Business and the Future of Capitalism . New York: PublicAffairs. p. 320. ISBN   978-1-58648-667-9.
  42. 1 2 "Kiva Help - Interest Rate Comparison". Kiva.org. Archived from the original on August 3, 2009. Retrieved October 10, 2009.
  43. ↑ "[Kiva Help] Borrowing Cost Comparison". kiva.org. Archived from the original on January 17, 2014. Retrieved January 16, 2014.
  44. ↑ Sinclair, Hugh (October 22, 2012). "What's Wrong With Kiva's Portfolio Yield Statistic?". Archived from the original on February 27, 2013. Retrieved January 16, 2013.
  45. ↑ "Kiva - About Us". Archived from the original on April 28, 2015. Retrieved March 18, 2012.
  46. ↑ Shearer, Laura (April 15, 2009). "The Coffee Trade Nothing Fair About It". La Cuadra. Archived from the original on January 23, 2010. Retrieved January 10, 2012.
  47. ↑ "Guatemala inflation rate drops to 25-year low". Reuters. July 7, 2009. Archived from the original on March 21, 2022. Retrieved January 10, 2012.
  48. ↑ "Kiva Zip: FAQ". Archived from the original on May 27, 2015. Retrieved May 26, 2015.
  49. ↑ "Kiva Zip: Innovations in Person-to-Person Lending". Archived from the original on April 28, 2015. Retrieved May 26, 2015.
  50. ↑ "Kiva | Frequently Answered Questions". Archived from the original on March 13, 2017. Retrieved April 3, 2023.
  51. 1 2 "Where Kiva works". Kiva.org. Archived from the original on October 17, 2018. Retrieved November 10, 2018.
  52. 1 2 3 Roodman, David (October 2, 2009). "Kiva Is Not Quite What It Seems". Center for Global Development. Archived from the original on January 18, 2013. Retrieved January 16, 2010.
  53. ↑ Strom, Stephanie (November 8, 2009). "Confusion on Where Money Lent via Kiva Goes". New York Times. Archived from the original on January 21, 2018. Retrieved January 16, 2010.
  54. ↑ Flannery, Matt (October 12, 2009). "Matt Flannery, Kiva CEO and Co-Founder, Replies". Center for Global Development. Archived from the original on February 10, 2010. Retrieved January 16, 2010.
  55. 1 2 Flannery, Matt (March 29, 2008). "Cockfighting". Skoll Foundation. Archived from the original on May 6, 2008. Retrieved September 15, 2010.
  56. ↑ Smiley, Lauren (February 27, 2008). "Kiva's Microloans Underwriting Cockfighting in Peru". SF Weekly. San Francisco. Archived from the original on June 10, 2011. Retrieved September 15, 2010.
  57. ↑ Pan, Joann (March 15, 2012). "725,000 Loans Granted By Kiva, 2.6 Billion To Go". Mashable Business. Archived from the original on April 1, 2012. Retrieved March 31, 2012.
  58. ↑ "Charity Navigator - Historical Ratings for Kiva". Charity Navigator. Archived from the original on August 4, 2020. Retrieved November 28, 2019.
  59. ↑ "Google.org". Google.org. Archived from the original on December 20, 2013. Retrieved January 5, 2014.
  60. ↑ "International Microfinance 2012 Top Nonprofit Ranking". Myphilanthropedia.org. Archived from the original on January 5, 2014. Retrieved January 5, 2014.
  61. ↑ "Monitor: And the winners were ..." The Economist. December 3, 2011. Archived from the original on February 16, 2014. Retrieved January 5, 2014.
  62. ↑ "ON | Omidyar Network Awards $5 Million Grant to Kiva to Spur Growth of Microfinance in Underserved Markets". Omidyar.com. August 12, 2010. Retrieved January 5, 2014.[ permanent dead link ]
  63. ↑ "Kiva Gift Card, Courtesy of Groupon". Oprah.com. November 19, 2010. Archived from the original on April 24, 2014. Retrieved January 5, 2014.
  64. ↑ "Kiva, GlobalGiving and other "giving marketplaces" - GiveWell". GiveWell. Archived from the original on May 21, 2012. Retrieved June 3, 2012.
  65. ↑ "Kiva | The GiveWell Blog". Blog.givewell.org. May 6, 2010. Archived from the original on December 24, 2013. Retrieved January 5, 2014.
  66. ↑ "Kiva - 50 Best Websites 2008". Time. June 17, 2008. Archived from the original on January 5, 2014. Retrieved January 5, 2014.
  67. ↑ "Kiva « Skoll Foundation". Skollfoundation.org. Archived from the original on July 20, 2014. Retrieved January 5, 2014.
Logo for the Wikipedian team on Kiva.org Wikimedia Kiva community logo.svg
Logo for the Wikipedian team on Kiva.org
This page is based on this Wikipedia article
Text is available under the CC BY-SA 4.0 license; additional terms may apply.
Images, videos and audio are available under their respective licenses.