Kiva.org is the world’s first and largest crowdfunding platform for social good with a mission to connect people through lending to alleviate poverty. With as little as a $25 loan, anyone can help a borrower start or grow a business, go to school, access clean energy and realize their potential. Since 2005, Kiva and their growing global community of 1.6 million lenders have crowdfunded $987 million in microloans to more than 2 million entrepreneurs in 82 countries, with a 97% repayment rate.
Lenders have crowdfunded $987 million in microloans to more than 2 million entrepreneurs.
More than any other platform, Kiva has the ability to bring an entire community together to solve the problem of limited access to capital for small businesses. With Kiva, everyone gets to participate. Anyone with the ability to access Kiva.org can lend as little as $25 to any entrepreneur who applies. If $25 is too steep, you can still participate by offering a character endorsement for a borrower.
In 2011, Kiva began a pilot program within the US to create a more connected experience between lender and borrower. Since then, though borrowers from anywhere within the US are invited to apply, several Kiva Cities have emerged as focal points which help to expand Kiva’s presence domestically by introducing more people to the process of supporting businesses in their backyard.
Small businesses actually create more jobs in aggregate than all large corporations, yet they struggle to find access to the capital they need to grow. We’ve identified this access to capital issue as a high priority for building inclusive economies. Along with solutions like our Growth Loan, Kiva’s zero interest platform creates new rungs on the ladder to bankability for small businesses and early stage companies. Greater access to capital translates into more jobs, local value creation, and opportunity for underserved entrepreneurs.
Our partnership with Kiva exists on multiple levels. Nationally, we are an implementation partner helping to launch Kiva Cities. Thus far, work in both Louisville, KY and Columbus, OH has resulted in over $650,000 worth of loans (and counting) to a diverse population of entrepreneurs.
In Kiva Cities both public and private organizations come together to create match funds, publicize the platform, encourage all citizens to participate, and provide hands-on assistance for borrowers through a full-time Kiva Advisor. Kiva Cities experience 7 to 10 times the impact in a shorter period of time compared to borrowers finding Kiva online on their own.
We also participate on the platform as a Lender and a Trustee. Access Ventures endorses borrowers that we know personally, are well-known within a trusted network of friends, or who are currently working with Access Ventures to improve their business models.
As a Trustee you can create the due diligence process that best fits you or your organization. There is no cost to borrow, lend, or endorse which means there’s a role for everyone! We’ve lent thousands on the Kiva platform to date, and every loan is helping us to advance our own mission of creating more inclusive economies.
We hope you’ll join us by creating your own Kiva account.