A young organization which was founded in 2005, Kiva has already allocated over 368 million dollars in loans to 66 countries around the world. Operating under the premise that everyone has the power to create opportunity for themselves and those around them, Kiva provides safe access to funds for those even in the farthest corners of the world. To date, there have been over 842,000 lenders to Kiva and the organization boasts a 98.97% repayment rate.
What does this mean, you ask? Well, basically, it means you have the power to change someone’s life across the world without it actually costing you a dime. Kiva wisely uses the power of the internet and a worldwide community of microfinance institutions who allocate the loans locally in the field. 100% of every dollar donated on Kiva goes to fulfilling loans. The organization does not take a cut and Kiva does not charge interest to the institutions who grant the loans.
Another fun aspect of Kiva is you, the donor, are able to help choose which loan you’d like to help make possible. For example, right now, you could help a Kenyan farmer purchase and insure a dairy cow so he can provide a better life for his five children; you could help a Filipino farmer purchase fertilizer and rice seedlings for his farm; or you could help a Peruvian business purchase tables and chairs. All loan pages helpfully show you the repayment timeline and give you information on how your loan will go to use.
For more information and to fund a loan, visit kiva.org.
