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Welcome to Kivapedia
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Building on the core idea of the popular Wikipedia, this Wiki is an attempt to create a complete reference to all things Kiva. There are no limitations on what can be covered here as long as it relates back to Kiva in some way.
Where To Start
You can browse the content of the Wiki by using the categories or (at least until the list gets too long) view an alphabetical list of all pages. The search box to the left allows you to quickly locate information, including more help. If you want to see the latest edits and additions, visit the Recent changes page.
How You Can Help
This is an open Wiki that anyone can edit. Accurate and helpful information is always welcome so feel free to add to, or correct anything you see. Changes are monitored by other users and all edits can be reversed with a couple clicks. A free registration is required to begin editing to prevent spam. Please edit responsibly.
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Kiva is a non-profit organization with a mission to connect people through loans for the sake of alleviating global poverty. Leveraging the internet and a worldwide network of microfinance institutions, Kiva lets individuals lend as little as $25 to help fund small businesses run by low-income entrepreneurs around the world.
Loans made on Kiva.org provide 0% interest to lenders. Kiva itself charges no interest from the borrower. Borrowers are charged some interest by the respective microfinance institution handling the individual loan. Kiva.org keeps track of how much interest is charged and will not work with those charging unfair or exorbitant interest rates. Kiva borrowers have a historical repayment rate of 100%. Kiva is working with regulators to allow microfinance institutions to offer variable interest rates to lenders.
Kiva enables microfinance institutions around the world to post profiles of qualified local entrepreneurs online. Lenders consist of any individual with a credit card. Lenders browse and choose an entrepreneur they wish to fund. Kiva aggregates loan capital from individual lenders and transfers it to microfinance partners, called "Field Partners", to disburse and administer. As loan repayments are made by the entrepreneur, the Field Partners remits funds back to Kiva. Once the loan is fully repaid, Kiva lenders can withdraw their principal or re-loan it to another entrepreneur.
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Microcredit is the extension of very small loans (microloans) to the unemployed, to poor entrepreneurs and to others living in poverty who are not considered bankable. These individuals lack collateral, steady employment and a verifiable credit history and therefore cannot meet even the most minimal qualifications to gain access to traditional credit. Microcredit is a part of microfinance, which is the provision of financial services to the very poor; apart from loans, it includes savings, microinsurance and other financial innovations.
Microcredit is a financial innovation which originated in developing countries where it has successfully enabled extremely impoverished people to engage in self-employment projects that allow them to generate an income and, in many cases, begin to build wealth and exit poverty. Due to the success of microcredit, many in the traditional banking industry have begun to realize that these microcredit borrowers should more correctly be categorized as pre-bankable; thus, microcredit is increasingly gaining credibility in the mainstream finance industry and many traditional large finance organizations are contemplating microcredit projects as a source of future growth.
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Matt Flannery began developing Kiva.org (Kiva) in late 2004 as a side-project while working as a computer programmer at TiVo Inc. In December 2005, Matt left TiVo to devote himself to Kiva full-time. As CEO, Matt has led Kiva's growth from a pilot project to an established online service with partnerships across the globe a dedicated band of staff and supporters closer to home.
Prior to starting Kiva, Matt spent time in Uganda, Tanzania and Kenya filming stories of micro-businesses started by Village Enterprise Fund. It was this time in East Africa that inspired him to develop Kiva.
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- ...that Elizabeth Omalla of Tororo, Uganda, was the recipient of the first Kiva loan on March 31, 2005?
- ...that the Mark Agwonah Memorial Fund honors the memory of a Kiva entrepreneur?
- ...that Matt Flannery is a 2006 Global Social Benefit Incubator entrepreneur?
- ...that Kiva was the first organization for which PayPal provided free payment processing?
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- Add and improve Kivapedia articles.
- Help fill and keep the Kiva timeline up to date.
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This wiki is hosted by and maintained on a volunteer basis, mainly by users of the Kiva Friends community forum. For expanded and daily discussions about Kiva and more, please check out the forum.
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