In just 7 years, Kiva US has raised over $30 million in loan capital for 6,000 borrowers in over 1,000 cities. On Kiva's crowdfunding platform with both US-based loans and international loans, lenders fund over $1 million in loans every 3 days.
Here in the US, Kiva has a crowdfunded loan product built to serve the financially excluded, those small business owners and entrepreneurs who are just getting started:
- $1-10K loans
- 0% interest, $0 in fees
- 12-36 months repayment
Kiva borrowers are...
- 68% female
- 71% minority
- 60% were previously rejected from other capital
- 58% have a credit score below 650
Kiva uses crowdfunding to enable everyday people to pool small lending contributions (as little as $25) to create loans for entrepreneurs in communities that need it most.