2. Introduction
Agenda for this Community Conference Call
There are 2 purposes to this call:
• To share with the Kiva community some of the data we’ve collected around the
U.S. pilot
• To receive feedback directly from the Kiva community
Agenda:
6. Introduction
7. Summary of what we have learned since June 10
8. Background
9. What happened
10. Detail of what we have learned since June 10
11. Your feedback
Note: Kiva will post a response to the Kiva Blog after on July 23.
3. Summary
What we have learned since June 10
• The Kiva community is divided in opinion about the U.S. pilot
• The U.S. pilot has attracted more “new money”
• The U.S. pilot drove an increase in new-user sign-up
• The U.S. pilot attracted new lenders for all countries
• U.S. Focused Lenders also lent to developing countries
• “Core Kiva Lenders” continued to lend more
• The donation rate has continued to be stable
• U.S. loans funding rate is slightly above average
4. Background
Kiva’s 2009 Growth Strategy
Each year Kiva sets internal goals for the number of new Field Partners and countries
to be added to the global portfolio.
2009:
• Approximately 30 New Partners planned
• 6 New Countries
• Total loans funded target of $60 million
• Community Conference Calls have highlighted interest in certain new countries
5. Background
June Portfolio Growth
• 8 New Kiva Field Partners added
– 2 in the United States
– 6 in other countries
• 3 New countries added in June
– United States
– Kyrgyzstan
– Liberia
• Kiva re-entered Ecuador
6. Background
Global Portfolio
United States 1.2%
Cambodia (14.3%)
Tajikistan (8.9%)
• June’s growth increased Kiva’s global portfolio to 48 countries
• Kiva’s global portfolio enforces limits to the total share held by any one country, to ensure a
balanced porfolio and minimize risk
– For example, for the U.S. pilot launch, all U.S. loans currently can not exceed 5% of the global
portfolio
• Country limits are enforced by Field Partner limits
– ACCION USA has a total outstanding loans limit of $550k
– Opportunity Fund has a total outstanding loans limit of $250k
7. What happened
June 10, 2009: First U.S. loans posted on Kiva.org
• 2 new U.S. Field Partners were added to the portfolio
– Accion USA (New York)
– Opportunity Fund (Bay Area)
• 39 loans to U.S. borrowers were posted to the Kiva website in June
• The total of loans to U.S. borrowers in June was $224,775
• The average loan size of June U.S. loans was $5,763
• All loans part of the initial launch were completely funded within 18
days
8. What happened
Feedback from community
• There have been mixed reactions coming from the Kiva lender community
“I feel somewhat betrayed by the “Keep up your wonderful
introduction of loans to US work....Kiva: Loans That Change
entrepreneurs” Lives...that's what we are all
doing, isn't it?”
“I do not believe loans to US
people follows the intent of Kiva’s “I don't think that a struggling
mission statement” small-scale entrepreneur is more
worthy because she lives in
“you have changed the mission of America, but neither is she less
Kiva from one WE ALL agreed on worthy”
when we joined, to one that adds
a totally new dimension, stress on “Thanks for giving us the choice
resources and competition to lend or to not lend to US
between the loans.” entrepreneurs.”
So far the US launch poll has resulted in 48% yes and 44% no, with
9% not sure
9. What happened
June was a record month for Kiva
US loans Africa
$224,775
Asia
Eastern Europe
Middle East
Lat-Am
USA
Total funded: $4,640,475 Total funded: $4,906,800
Excluding US: $4,682,025
4.6% of loans raised in June on the Kiva site were for US borrowers
Excluding the U.S. loans, more loans were made to developing world
entrepreneurs in June, than ever before: $4,682,025
10. What we have learned
The U.S. pilot has attracted more “new money”
• Kiva Loans are funded by new money loaned, or by re-cycling repaid Kiva Credit
• However the availability of US loans is a source for bringing more people and more money
from the same people
Pre-launch average:
Post-launch
$51.4k
average: $60.8k
Daily Deposits
Since the launch, average daily deposits (“new money”) over one month have been 18%
higher than the average for four months prior
11. What we have learned
The U.S. pilot drove an increase in new-user sign-up
• New user sign-up tends to be higher at the start of the year but stays pretty consistent from
March to July
• In 2009 there has been an increase in sign-ups in the month post-U.S.-launch as compared to
the three months leading up to it
US launch
2009: 14.7k / month 2009: 20.4k (+39%)
2008: 13.2k / month 2008: 12.3k (-6%)
2009 new users
2008 new users
• Every month Kiva has about 14,693 new users sign-up on the Kiva website
• The one month period after launching in the USA saw a new-user sign-up of 20,380
12. What we have learned
The U.S. pilot attracted new lenders for all countries
• During the first week of the USA launch there was an unprecedented sharp increase in new
lenders joining the Kiva website
• On average, 479 new users signed up per day, in the 3 months before the U.S. pilot launch
• On June 10 and 11, a total of 4,795 new Kiva users signed up.
• Of the 4,795 new users on June 10 and June 11, 72% of loans they made in the next 30 days
were to developing country entrepreneurs
Africa
Asia
Eastern Europe
Middle East
Lat-Am
USA
Note: By focusing on new lenders who signed up June 10 and June 11, we can identify
users who signed up as a result of visibility of the U.S. pilot launch.
13. What we have learned
U.S. Focused Lenders also lent to developing countries
• There were 854 Kiva Lenders who made their first Kiva Loan (in the 30 days following the U.S.
pilot launch), to a U.S. entrepreneur.
• 26% of the loans these new lenders made in the next 30 days, were to developing country
entrepreneurs.
• There is a tendency for any Kiva lender, including the U.S. drawn lenders, to diversify and
also make loans to other people who may not fit the primary reason they came to the
website
Out of all lenders in this group, in the first
month post-US-launch:
- 14% made loans to at least one other country
Africa
- 6% made loans to at least five other countries
Asia
Eastern Europe
Middle East
Lat-Am
USA
14. What we have learned
“Core Kiva Lenders” continued to lend more
• A “Core Kiva Lender” is a lender who:
– Lends at least 100 dollars every month
– Has consistently loaned every month for the last 6 months
• There are 1487 ”Core Kiva Lenders”. These lenders continued to increase their lending in the
month post U.S. pilot launch
Average Loans $
15. What we have learned
The donation rate has continued to be stable
• Kiva measures donations made to Kiva relative to total loans made on the website. (For
example, if in one day $100,000 of loans were made, and $6,000 donated to Kiva, we
measure this as a donation rate of 6%)
• It is important for Kiva’s long-term viability to continue to see stability and growth in its
donations from lenders
$ donated / $ loaned
Donation Rate
The rate of donation has been going up and down in recent time. In the month post
U.S. pilot launch it was a little higher than the month before the U.S. launch
16. What we have learned
U.S. loans funding rate is slightly above average
Funding Rate
Hours / Dollar
The USA loans fund faster than about two-thirds of the Kiva portfolio
17. Feedback
We want to hear from you!
To share your feedback and comments, please use the web
conference system to “Raise Your Hand”
(Click on the “Raise Your Hand” button on this screen, and use
the chat feature to send the moderator your phone number
so that your phone line can be unmuted. Your phone number
will only be visible by the moderator.)
18. Appendix 1: Comments from Community poll
‘Do you support Kiva's decision to allow loan requests from the US?’
Theme Number of comments
Lender choice is important 87
Poverty is relative 62
Brand dilution 49
Charity begins at home 39
US not truly impoverished 35
Stealing from the developing world 28
Creativity within Kiva is important 10
Kiva in US won’t be successful (b/c 6
default rates, loan amounts too high)
Goes against capitalism (?) 3
• What this tells us: Which themes are most important to lenders
• What this doesn’t tell us: How each theme relates to someone’s overall opinion of whether or
not they support the US launch. For example,
– someone could not support the launch, yet still think lender choice is important
– someone could support the US launch, but also be concerned about brand dilution
