Kiva: You can fight poverty with just $1
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Transcript of Kiva: You can fight poverty with just $1
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You can fight poverty with just $1
by Tony Hue
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Meet Pedro
• Pedro needs a $825 loan to repair his car.
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What if you didn't have access to a bank?
• Financial services allow individuals to: • run their business • support their family • overcome poverty
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The world's first person-to-person lending platform
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Kiva's impact thus far
• Raised $289 million in loans • Nearly 700,000 lenders • 61 countries • 98.91% repayment rate
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Four key players
Field Partner Borrower Lender Kiva
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Step 1: Tony lends Pedro money to repair his car
Pedro: "I need $825 to fix my car."
Lender: "Here's $25! Hope you get your car fixed soon!"
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Step 2: Kiva sends funds to Field Partner
Kiva: "Here are the funds to cover the loan you made to Pedro!"
Field Partner: "Thanks a million, Kiva! You guys are the best! <3 <3"
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Step 3: Pedro pays back Tony
Pedro: "Here's your money back. I got my car fixed! Woot!"
Lender: "I'm glad to hear that! It was worth every penny."
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"How will my $1 help someone like Pedro?"
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Microfinance works
1) Help low-income households meet basic needs
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Microfinance work
2) Improved economic welfare and stability
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Microfinance work
3) Increase women's economic participation, and thus promoting gender equality and well-being
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What happened to Pedro?
Donate your dollar to Pedro at http://www.kiva.org/lend/383112
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