Kiva is a nonprofit organization dedicated to expanding financial services to those who need them most. Instead of donations, the organization connects lenders and borrowers through microlending – very small loans – sourced in increments of $25. A 501(c)3 US nonprofit, Kiva never takes a fee from lenders – 100% of their loan goes to the borrowers.
We envision a financially inclusive world where all people hold the power to improve their lives.
Kiva Website
This system of microlending is different from a donation which can only be given once. Instead, lending on Kiva means that when the borrower repays the loan, that money can be lent out again to someone else, continuing to help support the livelihoods of people around the globe. That same $25 loan that began with one person can end up assisting countless people, families, and communities as the cycle continues.
Kiva serves 77 countries and has connected 4.4 million borrowers with 2.1 million lenders. The organization has funded $1.76 billion in loans since they began in 2005. The current repayment rate is 96.3%, meaning that the vast majority – nearly all – of the borrowers are able to pay back the loans they receive.
In that regard however, Kiva does not guarantee repayment, so there is some risk inherent in the act of lending through their platform. Differing from traditional loans, Kiva does not charge borrowers interest and lenders do not receive interest.
With Kiva you can lend as little as $25 and make a big change in someone’s life.
Kiva Website
Their website allows you to browse through borrowers by either region or category. The current categories are agriculture, arts, conflict zones, COVID-19, eco-friendly, education, ending soon, food, health, Kiva US, livestock, mission-driven orgs, refugees and IDPs, short-term loans, single parents, water and sanitation, and women. Regions are divided as North America, Central America, South America, Africa, Eastern Europe, Middle East, Asia, and Oceania.
> Help someone in need with a microloan! <
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