What is Kiva?
Kiva is a platform that facilitates micro-lending to projects in developing countries, from individuals around the world. More than 1.4 billion people around the world are unbanked and cannot access the financial services they need. Kiva is an international nonprofit on a mission to change that.
They do this by improving the quality and cost of financial services and by unlocking capital through crowdfunding loans on Kiva.org.
For example, if someone needs the resources to start or develop a business, or funds to complete education, they are able to raise these funds via the platform.
How does Kiva work?
When someone invests in a project of their choice, the loan is repaid over time and the investor receives their money back. You can either choose to take your money out, or reinvest the money into another project. This is really beneficial to people who need the resources to develop their ideas and surroundings, and there is a 96% repayment rate.
How has Kiva helped people?
Kiva has successfully loaned $1.7 billion, helping people across the world with their needs and developing themselves.