On October 23rd, 2014, we updated our
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NSLC 2010 Premal Shah President Kiva www.kiva.org Parth Shah National Director Kiva High School www.kivahighschool.org "Revolutionising how donors and lenders in the US are connecting with small entrepreneurs in developing countries”
Some focus on women in places where women don’t have the same rights as men and so have no economic empowerment
Some focus on the rural population in areas where people are isolated and cannot travel to cities to access services
Some focus on a comprehensive program which includes business training with financial products
There are thousands of microfinance institutions around the world, and they all vary a little depending on the region they are in and people they are targeting to help What ties them all together, however, is a desire to help the poor by providing them with financial services
Spreading opportunity rather than spreading wealth
"Don't ask what the world needs, do what makes you come alive; because what the world needs most are people who have come alive." -- Howard Thurman Guiding personal principle
Sophomore slump 20 “ Alive-ness” Key milestones and how ‘alive’ I felt SEWA Research Project Management Consultant in New York Joined small start up: PayPal Personal discovery of Microfinance Leave for Kiva.org PayPal acquired by eBay Big company – “do I matter?” angst “ I got this idea” OMG it’s working! 33 Age
Kiva 101 Internet Lender Online marketplace Local Partner (MFI) Entrepreneur Money Information
550K people lent $120M to 200K entrepreneurs in 4 years
Other Key Stats
Growth: $1M loans every week
Repayment Rate: 97%
Recycle Rate: 65%
MFI Portfolio: 115 MFIs in 50 countries. Growing 3 a month.
Traffic: 40,000 visitors / daily
Organization: 35 employees / 500 volunteers
Leverage: $10 in loans for every $1 donated.
5 yr goal = $1 Billion
Kiva utilizes 4 “Web 2.0” principles
Create an “ Addictive ” User Experience
Be “ Radically Transparent ”
“ Crowdsource ” against constraints
Build in “ increasing returns on data ”
Create an “Addictive” User Experience
“ Addictive” = Easy + Fun
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
How Kiva tries to make it “Fun” Badging, Teams, fast changing UGC, stats... Loans are fully funded in hours Transactions happen every 18 seconds… Real time un-edited updates… Randomized “1 minute of fame “ + Lending Teams…
For some, Kiva is becoming very addictive!
Be ‘Radically Transparent’ Transparency Authenticity Trust
Kiva and Radical Transparency Paying for Kiva’s overhead is an explicit choice
Kiva and Radical Transparency Data inaccuracy and defaults are made explicit
“ Crowdsource” against constraints Big constraint? + No resources? = Crowdsource
Kiva and “Crowdsourcing” Kiva Fellows Program How do we train MFIs, gather progress updates and verify data accuracy hyper-fast?
Kiva and “Crowdsourcing” Kiva Translator Program How do we immediately translate entrepreneur profiles from native language to English?
Build in “Increasing Returns on Data” Leading public platform + Data integrity “ Increasing Returns on Data”
Public reputation system for MFI Risk and Social Performance Social Rating Risk Rating Kiva Social Rating Kiva Risk Rating
Result: 30,245,763 loans found Kiva and “Increasing Returns on Data” World’s largest DB of microfinance investments Long Term : Entrepreneurs could use Kiva as a public credit bureau… Short Term : MFIs could use Kiva to build credit worthiness to other funders…
Kiva High School
Mission - to bring together and organize high school students interested in fighting poverty on both a local and national scale.
How does Kiva High School Work?
What is Kiva/Microfinance/Kiva High School?
How to setup a chapter
Chapter fundraising ideas
Kiva High School
What does Kiva High School bring to your school?
Awareness of global issues such as poverty
Give high school students a platform to make a powerful impact
Show the capacity of microfinance and the ripple effects of your loan
A network of like-minded students that are unified through a central organization
Kiva Fellow Video http://fellowsblog.kiva.org/2010/03/11/12745/