Mittwoch, 29. Mai 2013

Loans That Change Lives

Kiva is a non-profit organization that connects people through lending to alleviate poverty. Leveraging the internet and a worldwide network of microfinance institutions, Kiva lets individuals lend as little as $25 to help create opportunity around the world.

Its story starts at San Francisco in 2003. Matt Flannery and Jessica Jackley started to think about it after attending a talk about microloans in Stanford. When in Africa, they interviewed entrepreneurs about the problems they faced in starting ventures; they found the common theme was always the same: the lack of access to start-up capital. When they went back to the States they began developing a microfinance project: they gave their first seven loans in April 2005 for a total amount of $3,500; in September everything was totally repaid. It was the moment to found Kiva (that means “unity” in Swahili) as a NPO. Premal Shah from Paypal and Reid Hoffman from Linkedin joined the team.
Since then, if we have a look to their numbers… Continue at Megafounder Blog

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