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Kiva fulbright (07 mar 2009)

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  • -- As you know, half the world lives on less than a two dollars a day. We can solve that. All we have to do is to continue to devalue the American currency at the existing rate.
  • -- The press was our version of a venture capitalist
  • Clearly, a lot needs to happen for kiva to fulfill its promise – the industry has a lot to gain from its success, and there are also risks if we don’t succeed – how can we work together to make it happen?
  • -- Startup MFI in Ecuador , stanford classmates -- Established MFIs like ProMujer -- Banks, NGOs and NB Financial Institutions -- MFIs part of networks like Accion and Opportunitity and even Save the Children
  • -- Startup MFI in Ecuador , stanford classmates -- Established MFIs like ProMujer -- Banks, NGOs and NB Financial Institutions -- MFIs part of networks like Accion and Opportunitity and even Save the Children
  • 1) What Kiva DOES 2) What Kiva DOES NOT ---- Have offices all over the world ---- Screen the individuals on the site ---- Let individuals post directly to the site ---- Beehive business, Mushroom Farm examples
  • 1) What Kiva DOES 2) What Kiva DOES NOT ---- Have offices all over the world ---- Screen the individuals on the site ---- Let individuals post directly to the site ---- Beehive business, Mushroom Farm examples
  • -- butcher

Kiva fulbright (07 mar 2009) Kiva fulbright (07 mar 2009) Presentation Transcript

  • The Kiva Story: Connecting through Lending Kiva Translators Program Kiva Fellows Program JD Bergeron Director, Kiva Fellows Program www.kiva.org/volunteer/ "Revolutionising how donors and lenders in the US are connecting with small entrepreneurs in developing countries”
  • Kiva Homepage: www.kiva.org
  • A simple story: this is a real person!
  • Kiva Vision, Mission and Core Beliefs
    • Vision
    • Everyone connected. Everyone empowered.
    • Mission
    • Connecting people through lending for the sake of alleviating poverty.
    • Core Beliefs  
    • Power of Microfinance
    • Partner Relationships
    • Transparency
    • Spread of Technology
    • Lending is Connecting
    • Sustainability
    • Industry Inclusion
  • Kiva 101: How does it work? Money Information Local Partner (MFI) Entrepreneur Internet Lender Online marketplace
  • How Kiva tries to make it “Fun” Rich user generated content, changing fast... Loans are fully funded in hours (MFI staff love this)… Transactions happen every 37 seconds… Real time un-edited progress updates from around the world… ‘ Popular’ entrepreneurs rapidly rise to the top… Randomized “1 minute of fame “ for Lenders…
  • How Kiva tries to make it “Easy” Designed for everyday people, not affluent experts “ I can see the person I’m lending to…” Low cost to entry Business relationship based on mutual dignity, not pity Quick and easy checkout
  • Where does Kiva work? Sierra Leone Ukraine S.Sudan Peru Uganda D.R. Mexico Bosnia Honduras Nicaragua Benin Kenya Azerbaijan Paraguay Tajikistan Cameroon Cambodia Indonesia Vietnam Ghana Togo Samoa Tanzania Philippines Mozambique Rwanda Bolivia Senegal Lebanon Palestine Afghanistan Guatemala El Salvador Mali
  • Getting Press "Revolutionising how donors and lenders in the US are connecting with small entrepreneurs in developing countries”
  • +425,000 social investors have lent + $59 million in first 3 years.
    • Other Key Stats
    • Growth: $1M loans every 10 days.
    • Risk: 3.5% delinquency rate / < 0.5% default rate
    • MFI Portfolio: 97 MFIs in 42 countries. Growing 3 a month.
    • Traffic: 100,000 site visitors a week.
    • Organization: 30 employees / +400 volunteers
    • Leverage: Platform raises $10 in loans for every $1 donated.
    5 yr goal = $1 Billion
  • Kiva by the Numbers
    • Time since launch: 41 months (Oct-2005)
    • Loans: $58 million, growing $1 million every 12 days
    • Lenders: 425K people from 70+ countries
    • # of loans funded through Kiva: 67,869
    • Borrowers: 40K entrepreneurs from 41 countries
    • MFI Partners: 88 MFIs, growing at three per month
    • Traffic: 100K+ visitors per week
    • Activity: Loan made every 9 seconds
    • Risk: 98.74% active loans on time / 1.26% default rate
    • Average size of loan for funding: $452.53
    • Average total amount loaned per lender : $136.53
    • Average number of loans per Kiva Lender: 3.66
    • Org Size: ~30 employees / 400+ volunteers
    • Leverage: Platform raises $8 for every $1 in expenses
    • Goal: $1 Billion from 10M lenders in 5 years.
  • What Are the Requirements?
    • Kiva seeks volunteers with:
      • High-level proficiency in a foreign language
      • Excellent writing skills in English
      • Ability to commit to two hours per week for three months as a volunteer
      • Check email frequently and comfortable using new technology
      • Previous translation experience is helpful, but not required.
    • Kiva.org is the first person-to-person micro-lending website, lending directly to entrepreneurs in developing countries.
    • Volunteering from their own homes, Kiva volunteers translate entrepreneurs' profiles into English, which are then posted for funding at Kiva.org.
    • The Kiva Translation Program offers individuals the opportunity to:
      • Make a direct contribution to Kiva
      • Improve language skills
      • Form a network of volunteers
      • Build your resume
    What Is the Kiva Translation Program? What Languages Are Needed?
    • Language needs include:
      • Bahasa Indonesia
      • French
      • Mongolian
      • Portuguese
      • Russian
      • Spanish
      • Vietnamese
      • Future needs: Arabic, Armenian, Dari, Pashto and Tagalog
    Change Lives: Translators Apply Today www.kiva.org/volunteer
  • Who Volunteers?
    • Kiva seeks volunteers with:
      • Fluent language skills
      • Backgrounds in economics, finance, and international development
      • Overseas experience
      • Excellent writing abilities
      • Knowledge of various web applications
      • Problem solving skills
      • A high level of self motivation
      • Ability to fundraise for their trip
    How Do I Apply?
    • Fellowships last 10 weeks to one year in the field
    • Upcoming application dates are:
      • KF7 – Nov 1, 2008
      • KF8 – Mar 1, 2009
      • KF9 – July 1, 2009
      • KF10 – Nov 1, 2009
    • To apply, go to our website www.kiva.org/fellows
    • For questions not answered in the FAQ, contact [email_address]
    • Kiva.org is the first person-to-person micro-lending website, lending directly to entrepreneurs in developing nations
    • The Kiva Fellows Program offers individuals the opportunity to:
      • Travel abroad to a developing country
      • Chronicle the lives of the working poor
      • Assist a Microfinance Institution
      • Forge the Kiva relationship with the Microfinance Institution
    What is the Kiva Fellows Program? “ Revolutionising how donors and lenders in the US are connecting with small entrepreneurs in developing countries.” Change Lives: Fellows
  • APPENDICES
  • Where does the KF fit into the picture? Field Partners Kiva.org Borrowers Lenders KF
  • Facilitating Connections Field Partners Kiva.org Borrowers Lenders KF
  • Three Challenges for Kiva
    • Keeping loans on the site
    • Keeping the integrity of the data
    • Keeping lenders engaged
  • Key Stakeholders of the Kiva Fellow
  • Who are the Kiva Volunteers?
  • Role of the Kiva Volunteers
  • How loans get to lenders *According to the 2008 lender survey, the loan’s profile is the #1 factor in their decision to lend. The country of the borrower was the #2 factor.
  • Kiva in Africa
  • Videos from the Field: Nigeria
    • http://www.youtube.com/watch?v=CgkSjkTgWtk
  • Videos from the Field: Togo
  • Kiva in Asia and the Pacific
  • Videos from the Field: Cambodia
    • http://www.youtube.com/watch?v=VaRGO973yF8
  • Kiva in Latin America and the Caribbean
  • Videos from the Field: Peru
    • http://www.youtube.com/watch?v=G_CdDVYEbgs
  • Kiva in Eastern Europe and Central Asia
  • Videos from the Field: Bosnia-Herzegovina
    • http://www.youtube.com/watch?v=Q91PocWI_uk
  • Videos from the Field: Azerbaijan
    • http://www.youtube.com/watch?v=LcyIvrHPjBs&feature=related
  • Kiva in Middle East-North Africa
  • Kiva Fellows Blog
  • How to Apply!
    • www.kiva.org/volunteer/
    • Kiva Translators: send an email of interest
    • Kiva Fellows: submit an online application
    • Increase transparency
      • Social performance tracking
      • Unearth promising & problematic MFIs
      • Credit bureau for the developing world?
    • New funding source for risky/costly MFIs / clients
      • Kiva’s lenders are more risk tolerant and value impact
      • Enables down-market reach
      • New margins increase ability to provide health / education services
    • Develop a new class of social investors / globally concerned citizens
    Promise of Kiva for Microfinance
  • How a Kiva Fellow Adds Value
    • 1) The Power of Microfinance
      • Kiva Fellows engage in microfinance as a tool for poverty alleviation on a very personal level, an experience they will carry with them their entire lives.
    • 2) Partnership Relationships
      • Kiva Fellows strengthen the connections between all stakeholders
    • 3) Transparency
      • Just by being there, Kiva Fellows get the real picture and promote better understanding
    • 4) The Spread of Technology
      • Kiva Fellows train MFI staff to work with Kiva’s policies and backend technology
    • 5) Lending is Connecting
      • Kiva Fellows generate high quality content, as evidenced by comments on Journal Updates
    • 6) Sustainability
      • Kiva Fellows learn and document the host MFI’s processes – Kiva can’t be everywhere at all times
    • 7) Industry Inclusion
      • Kiva Fellows bring information—best practices—about how microfinance really works in the field back to Kiva
  • Kiva utilizes five principles of “Web 2.0”
    • Create an “ addictive ” user experience
    • Be “ radically transparent ”
    • “ Crowdsource ” against constraints
    • Build in “ increasing returns on data ”
    • Reach the “ long tail ”
    • “ Addictive” = Easy + Fun
    Improving the secret sauce Keeping Lenders Engaged
  • Be ‘Radically Transparent’ Transparency  Authenticity  Trust
  • Kiva and “Crowdsourcing” We have little money, but great partners! Free payment processing and employee support 120 Million free banner impressions Free Google Adwords – 25% of traffic Free Yahoo Search Marketing and employee support Free promotion (Community Impact Award) Funding for Field Research and Development Free phones for cell based data upload pilot Free promotion of Kiva widget to bloggers Free computers and early funder
  • The long tail of MFIs Tier I Tier 2 Tier 3 Tier 4 Investment Size The Internet is a promising way to reduce costs and distribute risk in Tier 2 - Tier 4 investing Big investment opportunity?
  • Kiva can uniquely reach the microfinance ‘long tail’ Tier I (e.g. Grameen Bank) ----- Tier IV (e.g. church congregation) Current distribution of funds in microfinance The Internet is a promising way to reduce costs and distribute risk in investing in smaller (Tier II - Tier IV) Microfinance Institutions. Could Kiva help discover and scale the next Grameen Bank?
    • Kiva’s platform can aggregate and deliver risk capital unlike any commercial source
    • Kiva lenders value social return / tolerate risk more than institutions
    • $25 investments size ensures risk distribution across thousands of investors
    • Less established MFIs can build a reputation slowly over time (like on eBay)
  • Results: +270,000 lenders from +70 countries in 2.5 years… How Kiva tries to make it “Fun” My Page, My Portfolio… “ My Page” encourages self expression, evangelism and loyalty… “ My Portfolio” concept encourages further lending, risk diversification and inter-lender competition…
  • Meet some field partners
  • Meet some field partners
  • Meet some borrowers
  • Meet some borrowers
  • Meet some borrowers
  • How can you get involved? Lending Teams 101
    • How does Lending Teams work? Members of Lending Teams continue lending as individuals, but they have the option at check-out to count each loan they make towards the overall impact of one of their teams:
    • How do you participate? Starting or joining a team is easy. Go to the new Community tab to view teams and then request to join one or more. Start your own team if you don’t find one that you like and start recruiting friends to join
    • Why participate? If you affiliate with any type of group – people who went to Stanford, other Kiva Engineers, people who live in London – Lending Teams is an easy way to get these friends turned on to Kiva, measure collective impact and communicate with each other along the way