In Just 4 Short Years, Kiva Hits $100 Million In Microloans
Back in 2005, Warren wrote about Kiva, and making history on a one-to-one basis. Kiva was a brand new idea, an easier, more human-centered way for struggling business owners to get the helping hand they need. Now, four years later, Kiva has hit a record - $100 million in microloans. As of October 31, Kiva has facilitated the movement of $100 million between people, helping small businesses stay above water. "What's even more amazing to me is that it took over 1 year to raise our first $1 million . This year alone, we're on track to raise nearly $60 million."
TechCrunch notes, "The company has brought together 573,000 lenders (people like you and me putting in $25 or more towards a specific project), and 239,000 entrepreneurs."
We are big supporters of the microlending system. Many of us TreeHugger writers have invested funds in Kiva, and a similar system that offers a return on investments called MicroPlace was part of our Holiday Gift Guide for Philanthropists last year.
It's an amazing way to help people help themselves, and redistribute wealth. Congratulations Kiva, on such a significant achievement.