The Mindful Bunch
Some key statistics from Kiva’s founding in 2005 to July 2015:
- 1,322,630 Kiva lenders have participated
- $729,463,125 in loans have been made
- 98.68% is the aggregate repayment rate that has been achieved
- with 298 microfinance institutions–the Field Partners
- in 86 different countries
- with the help of 450 volunteers around the world
Why Kiva exists
Kiva envisions a world where all people — even in the most remote areas of the globe — hold the power to create opportunity for themselves and others. Kiva believes that providing safe and affordable access to capital to those in need helps people create better lives for themselves and their families.
How Kiva does it
Making a loan on Kiva is so simple that you may not realize how much work goes on behind the scenes. Kiva works with microfinance institutions on five continents to provide loans to people without access to traditional banking systems. One hundred percent of every loan we make is sent to these Field Partners, who administer the loans in the field. Kiva’s 450 volunteers worldwide work with the Field Partners, edit and translate borrower stories, and help ensure the smooth operation of countless other Kiva programs. Learn more about how it works.
How Kiva is funded
100% of every dollar we lend on Kiva goes directly towards funding loans; Kiva does not take a cut. Furthermore, Kiva does not charge interest to the Field Partners, who administer the loans. The Field Partners themselves usually do charge interest from the borrowers, at rates they set in light of local conditions. The level of interest costs for each Field partner is disclosed on the Kiva site.
Kiva is primarily funded through the support of lenders making optional donations. Funds are also raised through grants, especially from corporate sponsors, and foundations.