Loans that change lives - Kiva connects borrowers globally
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Kiva is a non-profit organization that allows people to lend money via the Internet to low-income entrepreneurs in over 80 countries in order to reduce poverty. It was founded in 2005 by Matt Flannery, Jessica Jackley and Geoff Davis to connect people through lending. Kiva has facilitated over $3 billion in loans by 2013 and has an A+ rating from Charity Navigator. However, some critics note that the direct person-to-person connections between lenders and borrowers that Kiva promotes are partly fictional.
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Loans that change lives - Kiva connects borrowers globally
- 2. Loans that change lives.
- 3. MISSION "To connect people through lending to reduce poverty"
- 4. Kiva is a non-profit organization that allows people to lend money via the Internet to low- income entrepreneurs in over 80 countries.
- 5. HOW DID IT START?
- 8. Geoff Davis
- 9. “There is an historical tension between the donor/lender desire to know where my money goes and the recipient organization’s need for efficiency.”
- 11. “We were blown away; every- thing worked. It was better than we expected.”
- 13. “These stories are at the heart of Kiva’s goal and strategy”
- 15. “the direct person-to-person connection Kiva offered was in fact an illusion.”
- 16. “The person-to-person donor-to- borrower connections created by Kiva are partly fictional,” he wrote. “I suspect that most Kiva users do not realize this.”
- 17. “Premal Shah, Kiva’s president, said he could foresee a day when Kiva really did provide person-to-person connection, once some legal hurdles are cleared and when people in the developing world began using their mobile phones to use credit and make payments.
- 18. $3 BILLION 2013
- 19. HOW IS KIVA DOING NOW?
- 21. A+
- 23. SOURCES • kiva.org • http://www.nytimes.com/2009/11/09/business/global/09kiva.html?_r=0 • Kiva and the Birth of Person-to-Person Microfinance, Matt Flannery, MIT Innovations Journal • https://www.google.org/global-giving/global-impact-awards/kiva/ • http://www.bbb.org/greater-san-francisco/business-reviews/loans/kiva-microfunds-in-san-francisco-ca-193147 • https://www.charitynavigator.org/index.cfm?bay=search.summary&orgid=12978 • "The Kiva Team". Kiva.org. Retrieved December 14, 2012. • http://select.nytimes.com/2007/03/27/opinion/27kristof.html