Kiva Zip USA: Technology and microfinance Guest Lecture at PACE University, NY
Kiva Zip, Technology & The Future of Financial Inclusion 2013
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Transcript of Kiva Zip, Technology & The Future of Financial Inclusion 2013
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Technology, Social Finance and the Future of
Financial Inclusion
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“We are all familiar with the concept of a Church with no walls...
...Kiva Zip is a new kind of wonder - a lending organization with no physical
bank, no profit, and no interest. It exists purely.....on faith.”
Ted Jefferson, Bronx Shepherds Restoration Corporation introducing Kiva Zip to fellow leaders of faith-based organizations
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TECHNOLOGY HUMANITY
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TECHNOLOGY HUMANITYDigital Payments
Social ConnectivityCrowdsourcing
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TECHNOLOGY HUMANITYDigital Payments
Social ConnectivityCharacterGenerosityHuman tiesSelf-Service
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TECHNOLOGY HUMANITYDigital Payments
Social ConnectivityCharacterGenerosityHuman tiesSelf-Service
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Zero cost to serveZero InterestCrowd-funded Loans
to small business borrowers more “trustworthy”
than their credit score suggests
=
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The Need
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Micro-preneur needs
•Working capital•Lowering cost: buying in bulk, productivity appliances•Increase scale/revenues•Reliable production quality•Protection against risks •Fixed startup costs (renovations, licenses)
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The Solution:unlocking wealth from ‘idle capacity’?
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Stuff
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Skills
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Stuff
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Spare $
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How Kiva Zip works in practice:
Victor’s Cafeto CoffeeshopKiva Zip Story
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Victor, Cafeto and a 0%, $5,000 loan
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Victor’s ‘trustee’, MEDA
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MEDA ‘endorsed’ Victor
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Victor’s ‘crowd’ of lenders
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Lenders expressing support, and even becoming customers
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Victor updating his lenders
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Victor is now 100% repaid…
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…And he’s applying for a second, larger loanfor his 2nd coffee shop 1 year later!
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Victor then endorsed his friend Rocio for a loan
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Examples of Organizations partnering Kiva Zip as trustees
SEEDSPOTIncubator, AZ
GREENHORNSnonprofit, small farm-innovation
SYRACUSE UNIVERSITY Institute for Veterans & Military Families
TEAM ETSY LITTLE ROCKCommunity Center for African American Business
St Louis, MO
Oakland City Church (Pastor Josh McPaul)
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Future of Financial Inclusion?
“Anyone”
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38%
5%7%7%8%
9%
27%
FoodShopsAccess, CraftContractors, Cleaners, MechanicsFarmstech/appsother
Don’t need a special idea, or great marketing or videos to get funded