Kiva.org Reaches $1 Billion Milestone in Crowd-Funding Loans Disbursed Globally
Thursday, June 29, 2017
Today Kiva.org, the world’s first and largest crowdfunding platform for social good, announced that it surpassed $1 billion USD in loans supporting borrowers around the world. More than 2.4 million entrepreneurs, farmers and students globally have been able to launch and expand viable businesses or pursue an education thanks to loan support from 1.6 million people, lending just $25 dollars at a time.
Kiva provides financial support to low-income borrowers, enabling individuals from all over the globe who have few other opportunities for financial assistance to receive a critically needed loan. Through lending, Kiva is alleviating poverty and addressing the critical social issues of our time, particularly the refugee crisis, climate change, and gender inequality. Specifically, Kiva has disbursed loans to 2,013,194 women borrowers; 19,082 to borrowers in green and clean energy spaces; and 4,544 to refugee borrowers. Kiva has also expanded to support social enterprises addressing community-wide issues such as access to clean water and sustainable farming.
Source: BusinessWire (link opens in a new window)