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Kiva.org: Loans that Change Lives

Team 5 Andrew Bennett, Lawrence Davis, Caleb McCrary, & Josh Chumley. Kiva.org: Loans that Change Lives . Kiva.org was started in October of 2005 by Matt Flannery and Jessica Jackley

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Kiva.org: Loans that Change Lives

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  1. Team 5 Andrew Bennett, Lawrence Davis, Caleb McCrary, & Josh Chumley Kiva.org: Loans that Change Lives

  2. Kiva.org was started in October of 2005 by Matt Flannery and Jessica Jackley The couple’s initial interest started in 2003 when they attended a lecture given by Muhammad Yunus on Microfinance Their journey to help people led them to Africa where they interviewed entrepreneurs about the troubles of starting a business They discovered that a lack of access to funds was a common theme Returning from Africa, they began developing a plan for a microfinance project that would become Kiva.org Kivais run by a team with experience in business, microfinance, and technology “Kiva” means unity in the Swahili language In the beginning

  3. The mission is to connect people, through lending, for the sake of alleviating poverty Kiva empowers individuals to lend to an entrepreneur across the globe. By combining microfinance with the internet, Kiva is creating a global community of people connected through lending. Microfinance - a general term to describe financial services to low-income individuals or to those who do not have access to typical banking services. Kiva’s Mission Statement

  4. People are by nature generous, and will help others if given the opportunity to do so in an accountable way The poor are highly motivated and can be very successful when given an opportunity By connecting people, we create relationships beyond financial transactions, and build a global community expressing support and encouragement of one another Kiva Believes…

  5. Dignity:Kiva encourages partnership relationships as opposed to benefactor relationships. Partnership relationships are characterized by mutual dignity and respect. Accountability:   Loans encourage more accountability than donations where repayment is not expected. Transparency:   The Kiva website is an open platform where communication can flow freely around the world. Kiva Promotes…

  6. Around $170 million have been loaned and around 230K loans have been funded 121 active field partners that help 208 countries Nearly 80% of loans are made to female entrepreneurs Current Repayment rate is 98.95% Average loan per lender is $218.11 (includes reloaned funds) Average loan per entrepreneur is $381.37 A few facts (as of 11/7/2010)

  7. Now What??

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