Micro Lending the Kiva Way
Access to capital and small business loans are out of reach for many businesses who represent greater risk to bankers and angel investors. Often the amount of a loan needed is too small for any leading organization. Where can a business or start up go with small lending needs?
Enter the micro lender. This form of peer lending provides small amounts of capital to businesses in developing countries. This format of lending is now available by Kiva in the U.S. A range of businesses from catering, construction to auto repair have received funding up to $10,000 by micro loans of $25 or more.
Kiva’s Microlending Highlights include:
- Total value of all loans made through Kiva: $76,543,335
- Number of Kiva Lenders: 510,043
- Number of countries represented by Kiva Lenders: 185
- Number of entrepreneurs that have received a loan through Kiva: 186,154
- Number of micro loans that have been funded: 109,934
- Current repayment rate: 98.35%
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