Kiva (organization)

Kiva (organization)

Kiva is a 501(c)(3) non-profit organization headquartered in San Francisco, California.

Kiva (commonly known by its domain name, Kiva.org) is a 501(c)(3) non-profit organization headquartered in San Francisco, California that allows people to lend money via the Internet to low-income entrepreneurs and students. Kiva's mission is "to expand financial access to help underserved communities thrive."

During the Kiva process, a borrower applies for a loan, the loan goes through an underwriting and approval process, the loan is posted to Kiva for fundraising and supporters, the borrower re-pays the loan, and lenders use the payments to fund new loans or donate to a cause, or they can withdraw the money. Borrowers pay interest on most loans to the field partners, and the field partners are charged small fees by Kiva. Lenders do not receive interest on the money they lend.

Kiva relies on a network of field partners to administer the loans on the ground. These field partners can be micro-finance institutions, social impact businesses, schools, or non-profit organizations. Kiva is supported by grants, loans, and donations from its users, corporations, and national institutions.

Kiva includes personal stories of each person who applies for a loan so lenders can connect with borrowers on a human level. Since 2005, Kiva has crowdfunded more than 1.6 million loans, totaling over $1.4 billion, in 77 countries. Repayment is not guaranteed; repayment rate is 96.1 percent. Over 1.9 million lenders worldwide use the Kiva platform.

Timeline

March 13, 2012
Kiva raises a $1,000,000 seed round from Reid Hoffman.

Funding rounds

Funding round
Funding type
Funding round amount (USD)
Funding round date
Investment
Kiva (organization) angel round
1,000,000
March 13, 2012
1 Result
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People

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LinkedIn

Further reading

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Companies

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News

Title
Author
Date
Publisher
Description
Reportlinker
August 27, 2019
www.prnewswire.com:443
NEW YORK, Aug. 27, 2019 /PRNewswire/ -- Global Peer to Peer Lending Market By Business Model (Traditional P2P Model & Marketplace Lending Model), By End User...
Cooper Inveen
August 26, 2019
U.S.
Kiva, a San Francisco-based tech nonprofit organization, is using blockchain to create an online ID database in Sierra Leone allowing people who struggle to get loans to prove their credit history.
Cooper Inveen
August 21, 2019
U.S.
Kiva, a San Francisco-based tech charity, is using blockchain to create an online ID database in Sierra Leone allowing people who struggle to get loans to prove their credit history.

References

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