Had to recognize a milestone for Kiva, as it celebrated quite the achievment recently. They hit the magical $100 million mark. Founded four years ago, Kiva.org “has brought together 573,000 lenders (people like you and me putting in $25 or more towards a specific project), and 239,000 entrepreneurs.” It is a simple, yet brilliant model. In addition, it’s altruistic.
“Kiva creates a personal connection between lenders and recipients. Each entrepreneur has a profile page with a picture and description of what they plan to do with the loan. Then every month you get an update on how much of the loan has been repaid. For instance, I joined other Kiva donors to give this furniture maker in Afghanistan a $1,075 loan a year ago. So far, he’s paid back 61% of the loan without ever missing a payment.” You can also create or join a lending team on Kiva. “Once a loan is repaid, you can plow it back into another loan.” It’s not precisely a charity, but it is much like charitable giving. This is really a genuinely sweet, heart-warming story. It allows people to help themselves, builds innovation, and allows the loaners to feel good, too. It’s truly a win-win for all, and it’s a delightful commentary on humanity that the company has been so successful.
As we approach the Holiday season of giving, if you’re looking for a way to give something back, Kiva is a lovely idea.
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