Inside Kiva

We are delighted to once again offer Kiva lenders the opportunity to support borrowers in Ecuador! After over a year of inactivity, Kiva has recently teamed up with the Fundación ESPOIR to support the great work they do in helping bring financial and non-financial services to hard-to-reach areas in Ecuador.

ESPOIR lends to 100% women through 5 branches throughout the country. They are pioneers of the "Credit with Education" methodology wherein borrower recieve not only loans, but also business and life skills training. In addition, one of their branches has a medical clinic that is available to all borrowers and their families. For more information on the clinic, check out Kiva Fellow Cynthia McMurry's recent blog post.

-- posted by Michelle Kreger at 10:07 am PDT

Calling all university students, professors and alumni!  Boost school spirit and support for Kiva by checking out our Campus Kiva website, and keep your eyes peeled for a new and improved version set to come out later this summer.  Search for your school or alma mater, join the team, and stay connected through the power of microlending! 

-- posted by Chelsa Bocci at 09:07 am PDT

Thursday, Kiva quietly launched in Liberia, and Kiva Lenders noticed - within an hour all loans were fully funded, despite the dozens of other loans on the website!

Kiva’s first partner in Liberia is called Liberian Enterprise Assistance Program, or LEAP. The logo demonstrates that this acronym is not a lucky mistake, but an intentional choice to demonstrate that with a micro-loan from LEAP – you can leap into a better life!

Liberia is freshly recovering from two major wars that finally came to an end in 2003. The wars created serious problems with the infrastructure all over the country, which in turn created huge obstacles for anyone working to help the country get back on her feet.

Many people at LEAP say that the inflow of grants after the war made work difficult for microfinance institutions. They say that - these days, many people in Liberia are not used to being supported in a way that holds them accountable for their actions. As many clients convert from taking grants to taking loans, LEAP’s staff makes a strong effort to sensitize people to the importance of making good repayments; they have to remind them - this is not a grant. LEAP’s staff reminds clients that they should pay back their loans on time, because when the aid that is in Liberia now moves on to other places, microfinance institutions will remain as a way for people to build better lives for themselves.

LEAP staff members also explain that they have been pleasantly surprised at the dedications that their clients have in paying back their loans. On Friday, I visited a refugee camp that has two medium sized markets in it. The branch manager that I was with explained that he was very nervous about working in a refugee camp as this was the exact population that has been provided with so many grants over the years.


As we made our way around the market, he introduced me to the sellers, and most of them were LEAP’s clients! A few proudly told me that they were on their second cycle with LEAP, and they had paid well the first time.

LEAP will be posting primarily group loans on Kiva – and most of these groups have just five members. Browse LEAP’s loans and get a feel for the entrepreneurs in Liberia!

-- posted by Stephanie at 05:06 am PDT

UPDATE: Due to a breaking story on CNN, this story has been rescheduled for next Thursday, July 2.



Don't forget to watch Money and Main Street on CNN tonight!

Tune in at 8pm Eastern, 7pm Central, 6pm Mountain and 5pm Pacific time.

The show will be featuring some of Kiva's first US entrepreneurs!

-- posted by Fiona Ramsey at 10:06 am PDT

The Center for Financial Inclusion's June newsletter gave some information about research being done on this subject:

Raising Funds for MFIs in the Face of the Global Financial Crisis

How has the global financial crisis affected the way MFIs are capitalizing their balance sheets? The Council for Microfinance Equity Funds (CMEF), is taking a closer look at this question through a study led by Willem Enklaar.

In January, CMEF launched a capitalization study with an online questionnaire asking MFIs about their funding strategies in the face of the credit crunch, foreign exchange movements and other results of the current economic crisis.

To date over 65 MFIs have completed the questionnaire. Merging these responses with interviews from experts in the investment community has produced some interesting initial results.

• MFIs still need equity but the pot of available funds is getting smaller. The need for fresh equity is not significantly decreasing, as MFIs continue to seek growth and to strenghten their balance sheets. At the same time, the availability of capital has shrunk, as a result of the liquidity crunch.
• With less investment money to go around, investors are likely to be less willing to pay high prices of MFI equity: valuations are likely to decrease.
• An increasing number of MFIs are planning to fund part of their balance sheets with subordinated debt because it less expensive and quicker than raising fresh equity.
• Things may get worse before they get better. Although increased risk of delinquency and higher interest rates are affecting MFIs, they are not presently a primary cause for recapitalization. However, Mr. Enklaar predicts that this will change in the second half of the year because delinquency rates are expected to further deteriorate and interest rate are not expected to come down.

The sustained need for fresh equity highlights the relative resilience of the microfinance sector to the economic downturn. At the same time the study underlines that, as the crisis lasts and profitability ratios come increasingly under pressure, MFIs will face difficulties. Furthermore, with scarce capital and increased risk investors are likely to put their money in first-tier MFIs, leaving small and second-tier MFIs out in the cold.

The study will be available on the CMEF’s website in late summer.

CMEF is the first membership organization to bring together more than 20 of the leading private funds that make equity investments in microfinance. The Center for Financial Inclusion acts as the Secretariat for CMEF and conducts much of its investment related work under the aegis of the Council.

-- posted by Fiona Ramsey at 05:06 pm PDT

We’re constantly working hard to improve the Kiva website for the lenders who use the site to lend money to entrepreneurs, for the entrepreneurs whose loans are funded on Kiva and for the microfinance institutions Kiva partners with who facilitate the loans on the ground (Field Partners).

One improvement we’ve been working on for some time relates to the way Kiva loans are affected by foreign currency fluctuations. Foreign currency has significant impact on our Field Partners, and we’re excited that we’ve created a solution we think will be really effective in addressing this problem.

The Foreign Currency Situation Today

All Kiva loans are made in US dollars.

Let’s use an example of a pig-farmer in Vietnam, whose loan is being facilitated by Kiva’s Field Partner, TYM Fund. When a Kiva Lender lends $25 U.S. to the pig-farmer, Kiva sends $25 U.S. to TYM Fund, who then disburses the loan to the pig-farmer. When TYM Fund posts to the Kiva website that a repayment has been made on the pig-farming loan, TYM Fund will then send Kiva the repayment, also in U.S. dollars. Kiva then sends the repayment back to the Kiva lenders, also in U.S. dollars.

The problem is, the pig-farmer doesn’t receive U.S. dollars from TYM Fund. She is receiving Dongs, the Vietnamese currency.

Therefore, at some point in this process, a foreign currency exchange must take place. For all partners disbursing funds in a non-U.S. dollar currency, the exchange takes place after they have received loan funds from Kiva, and before they disburse the loan funds to the borrower. So, in the case of the Vietnamese pig-farmer, TYM Fund receives the loan from Kiva in U.S. dollars, then exchanges the U.S. dollars for Dongs using their local bank in Vietnam, and then disburses the loan to the pig-farmer in Dongs. As repayments are made by the pig-farmer to TYM Fund, TYM Fund converts the repaid Dongs to U.S. dollars, before sending the repayments off to Kiva, to be distributed to the Kiva Lenders who contributed to the pig-farmer’s loan.

The Foreign Currency Problem

The problem occurs when the value of the local currency, in this case the Vietnamese Dong, fluctuates. For example, when the Kiva loan reaches TYM Fund, they might exchange the U.S. dollars for Vietnamese Dongs at a value of 1 U.S. dollar for 17,000 Vietnamese Dongs. However, on the day they exchange the Vietnamese Dongs to U.S. dollars and send repayments back to Kiva, 1 U.S. dollar might only be exchanged for 16,000 Vietnamese Dongs.

Currency fluctuations can go up or down – meaning that a local currency might sometimes increase or decrease in value compared to the U.S. dollar, depending on what is going on in the global economy. Currencies can fluctuate a small amount, or they can fluctuate a large amount. If a currency suffers a massive devaluation against the U.S. dollar, this will create a problem for the Field Partner who still needs to send U.S. dollars to Kiva, even though their local currency can no longer buy as many U.S. dollars as it once received. Currently, when a massive local currency devaluation occurs, Kiva’s Field Partners are forced to make up the difference out of their own funds. We call this the Foreign Currency Risk.

In 2008 alone, pressure due to the U.S. economic crisis has caused emerging market currencies to devalue relative to the U.S. dollar. For instance, the maximum U.S. dollar depreciation over a 4-month period experienced by Ukraine in 2008 was -39%. Other countries such as Indonesia, Mexico, Kenya, Pakistan, Bosnia, Herzegovina, Bulgaria, Uganda and Paraguay have experienced 4-month depreciations greater than -20%.

Accepting and repaying U.S. dollars carries this risk, and, when faced with such a risk, some microfinance institutions may charge higher interest rates to make up any losses, or they may choose not to work with Kiva at all.

Kiva’s Foreign Currency Solution

Kiva’s Microfinance Partnerships Team and Engineering Team have been working for many months on a new feature that will share the Foreign Currency Risk amongst Kiva’s Field Partners and Kiva Lenders in the case of a massive local currency devaluation.
The way the new feature works is that it limits the Foreign Currency Risk for Field Partners to a devaluation of 20%. So, if the Vietnamese Dong devalues 10%, 15% or 20% against the U.S. Dollar between when TYM Fund received the Kiva loan funds and when they made a loan repayment, that amount must be made up by TYM Fund. It’s not until the local currency devalues more than 20%, that the cost is shared with Kiva Lenders.

So, if a Kiva Lender makes a $25 loan to the pig-farmer in Cambodia, but when a repayment is made, the Vietnamese Dong has devalued by 21%, TYM Fund must make up the missing 20%, but the Kiva Lender will receive back only 99% of their loan value. If the Vietnamese Dong has devalued by 30%, TYM Fund would again make up the missing 20%, but the Kiva Lender would receive only 90% of their loan value, because Kiva lenders bear the cost of the additional 10% devaluation.

Why did we choose this solution?

Currencies fluctuate against each other every day. Most currency fluctuations can be accommodated by Kiva’s Field Partners. It’s the risk of a massive currency devaluation that presents the greatest danger to Kiva Field Partners.
By limiting the Kiva’s Field Partners’ currency risk, we give them a much greater ability to manage their risk. If Kiva Field Partners can be confident that the greatest currency devaluation cost they need to prepare for is 20%, this gives them a hard number that they can work into their budget.

By passing the additional cost of foreign currency devaluation to Kiva Lenders, Kiva keeps this additional cost out of the Kiva budget (which is, in majority, funded by the donations of Kiva Lenders) so that our efficiency levels remain high. By distributing this cost among many Kiva Lenders, we decrease the impact any massive currency devaluation can on any one party, as each Kiva Lender can choose to diversify their portfolio so as to expose themselves to minimal currency devaluation risk.

In summary, we hope that releasing this feature will:

• Help drive down Field Partner interest rates
• Allow microfinance institutions that have difficulty accepting and repaying U.S. dollars to work with Kiva
• Reduce the risk of defaults arising from catastrophic currency devaluations

What’s happens now?

This new feature is being release tonight. However, that doesn’t mean that every loan will automatically pass on the risk of currency devaluation over 20% to lenders.

1 – Kiva Field Partners will now have the choice to “opt-in” to this feature; they can choose to manage all Foreign Exchange Risk themselves, or – by opting into the Feature – pass on the risk of currency devaluation over 20% to Kiva Lenders.

2 – You can see which loans have opted into the Foreign Exchange feature on the business page on the right side of the page under “About the Loan” in a section called “Currency Risk,” which has three statuses:

• Covered – If the Field Partner has not opted-into currency risk sharing
• Possible – If the Field Partner has opted-into currency risk sharing
• N/A – If the Field Partner does not disburse funds in a local currency (if they disburse U.S. dollars).

3 – Once a Field Partner has opted into this feature, the Foreign Currency Risk will only be shared with Kiva Lenders for new loans. All loans which have already been added to the Kiva site – whether they have already been funded, whether they are still being funded or whether they are yet to receive funding – will not expose you to the risk of losing funds via currency losses. So, you always have the choice to lend to businesses that have a possibility of foreign currency devaluation over and above 20%.

For more information, visit Kiva’s Help Center here or watch this video, featuring two of Kiva’s Microfinance Partnerships Managers who can help put this feature into perspective.



-- posted by Gerard Niemira at 10:06 am PDT

This Thursday (tomorrow!) watch CNN's Money & Main Street for a segment on Kiva!

Money & Main Street airs in the US on CNN at 8pm Eastern, 7pm Central, 6pm Mountain and 5pm Pacific time.

-- posted by Fiona Ramsey at 09:06 am PDT

Hear Matt Flannery, CEO and Co-Founder of Kiva.org, speak at the FRONTLINE/World Heroes Froam a Small Planet Film Festival.

"This year's festival will feature the latest films from FRONTLINE/World's Social Entrepreneur Series. Learn about one man's mission to improve wheelchairs in the developing world and how young Egyptians are combating mass unemployment by building their own companies. Also, the story of a pioneering surgeon who's changing women's lives in Sierra Leone; and an encore screening of the Kiva story."

Where: Brava Theater, 2781 24th Street, San Francisco
When: June 30th, 6pm
Other Special Guests:

Sandy Herz - Senior Advancement Officer, Skoll
Ralf Hotchkiss - Co-founder and Chief Engineer, Whirlwind Wheelchairs
Marc Krizack - Director of Operations, Whirlwind Wheelchairs
Sharon Tiller - Series Executive Director, FRONTLINE/World
Ahmed Youssry - Youth entrepreneur, INJAZ

This is a free and public event. Please R.S.V.P. by June 24 to confirm entrance: rsvp@flworld.org

Click here for more information about the event.

-- posted by Fiona Ramsey at 11:06 am PDT

Dear Kiva Lenders:

Last week Kiva launched two pilot partnerships with microfinance institutions in the United States: ACCION USA and Opportunity Fund. These two partnerships represent the 115th and 116th organizations Kiva has partnered with. The United States is Kiva’s 45th country. It represents our first foray into the developed world.

Our decision to work in the U.S. is controversial. Over the past few years, one of the top questions asked by our users has been "Why aren't you working in the U.S.?" We've been criticized for helping out entrepreneurs abroad while "ignoring" those in our own backyard (Kiva is based in San Francisco). Thus, long ago, we made a promise to research the idea. It took us nearly four years to get here, but we finally made the move on June 10th.

Since the launch of the U.S. pilot, we've received a new criticism from a different set of users. They asked us "Why are you working in the U.S.?". They point out that entrepreneurs in the U.S. aren't as poor as those in developing countries. Others argue that we are favoring the U.S. because we are an American nonprofit. Some of them have even been particularly vocal!

Both points of view have a lot of merit and we are joining the conversation. It is inspiring to see the passion of the Kiva community as they stand up for what they believe. We thank you for making your voice heard and promise to take into consideration your feedback as we evaluate U.S. pilot. In this short letter, we wanted to explain our thinking up to this point and our action plan moving forward. Lastly, we want to invite you to be a part of the decision making process.

How we decided to partner with microfinance institutions in the United States

Kiva was founded with only Ugandan borrowers in 2005. Shortly after launch, we began to get feedback from all over the world that the concept could be applied elsewhere to great benefit. Soon, we began to see loans sent around the world in all directions, from the United States to Tanzania, from Australia to Mexico, from Mexico to Peru, from Kenya to Indonesia. As we grew, we incorporated feedback we received from the internet community and MFIs around the world. When Kiva Lenders asked us for a partnership in Iraq, we worked really hard to make that a reality, when Kiva Lenders asked for connections to Afghanistan, we listened. We continue to do so.

Kiva strives to give lenders the power of choice. It has always been important to us that lenders can choose the individual they make a loan to, the Field Partner facilitating the loan and the country in which the entrepreneur resides. We believe these choices are a part of what makes lending through Kiva fun and satisfying. Each new country that Kiva expands to offers additional choice to Kiva Lenders, and this is true also of our partnerships in the United States.

Ultimately, however, the choice is yours.

How this fits within Kiva’s social mission

Kiva’s mission is to “connect people, through lending, for the sake of alleviating poverty.” We of course recognize that poverty is relative, and the poverty experienced by some of the entrepreneurs in Uganda or El Salvador is not at all shared by some entrepreneurs in the United States. It is usually the case, however, that they lack access to financial services from the formal financial sector in their country. Whether, due to lack of collateral, illiteracy, ethnic or gender discrimination, or due to lack of credit history, or an economic downturn, our Field Partners target entrepreneurs that are denied access to credit elsewhere.

The Field Partners we are working with in the U.S. target low-income entrepreneurs who are often marginalized from the formal credit markets in the U.S. That said, the U.S. entrepreneurs posted to the site represent a spectrum in terms of income level and degree of marginalization. We realize that while some may appear to need the loan, others may not appear to need the loan as much. From the Internet, it is impossible to make perfect judgments. This introduces a degree of controversy as our users debate on the site who really needs the loan and who doesn't. These are debates we are following closely.

How we plan to move forward

Kiva continues to build a portfolio of Field Partners across the globe, balancing our reach in each country to ensure we are widely diversified. At this time, Kiva’s U.S. Field Partners are 2% of the number of the total number of active Field Partners. If we continue with only these Field Partners, they will account for no more than 5% of Kiva’s total portfolio outstanding. However, if we decided to enroll additional U.S. Field Partners, the US could represent a larger percentage of the portfolio. The Kiva staff and community have the chance to make a thoughtful decision together before we jump into anything.

Thus, we are currently in "wait and see" mode with regard to this possible expansion into the U.S. and other developed countries. For the next few months, there are several things we will be monitoring. For instance, does the U.S. offer increase our lender base so that everyone benefits? Conversely, do the U.S. loans detract from the loans in developing countries? Are we lending to borrowers who can truly benefit from our help in the U.S.? Can we have a demonstrable positive impact for our Field Partners here?

As the summer progresses, we will be looking for answers to these questions and more in order to determine our strategy. We invite your feedback along the way. The best ways to contribute are:

1) Vote with your wallet - we will be tracking the rate of funding for U.S. businesses vs. other businesses
2) Post your opinion to this thread on Kiva Lending in the U.S
3) Vote in this online poll.

4) Join our next Community Conference Call, scheduled for July 15th. Dial-in details will be posted here, on the Kiva Blog.

Thank you for caring and for helping to shape the future of Kiva. We look forward to continuing the conversation.

Sincerely,

Matt Flannery, CEO and Co-Founder
Premal Shah, President

-- posted by Matthew Flannery at 05:06 pm PDT

In the month of May, you voted for your favorite Kiva Apps. Over 400 people voted, and the results are in!

#1 KIVA ALERTS: A suite of tools for facebook, mobile, and the web that tell alert you when loans of your interest appear on Kiva.

#2 KIVA WORLD: A live map of global Kiva loans in all stages: fundraising, funded, in repayment, and paid. Click on the markers to read more about the entrepreneur in the area.

#3 KIVA HEADS: Lets you browse loans on Facebook, and show off your loans in your Facebook page.

You can check out these applications and many others in the new App Gallery on Kiva. Thanks so much to all who voted and to all our developers for helping us build Kiva together.

-- posted by skylar at 03:06 pm PDT

Luis is not your average bakery delivery guy, bringing cakes, pastries and breads to your local restaurants, delis and hotels. On first glance he’s just another guy zipping around Manhattan in a van, with places to go and deliveries to make. But if you have the chance to get to know him, Luis is one of the most inspiring people you will ever meet.

Luis was homeless just ten years ago. He was that guy holding a sign saying “Need Work”. Without a place to stay or a way to earn a living, he was invisible, as many of the homeless are to the rest of society. That was, at least, until the owner of a bakery decided to give Luis a chance, and offered him work doing deliveries.

Luis didn’t let this chance go to waste, and he built a reputation for being a hard worker. Delivering baked goods in New York is hard work. You begin at 2 a.m., when many in Manhattan are still partying the night away, and you work into the afternoon. He kept at his work, building relationships with colleagues and customers, and keeping his boss happy, until the attacks of September 11 changed everything.

On September 11, 2001, at 8:30am, Luis made his regular delivery to a restaurant in the World Trade Center called Windows on the World; most of the customers that he delivered to were in and around the World Trade Center. Just minutes later, the attacks on the World Trade Center took place while Luis was making a delivery in another building. Luis miraculously survived the events, and to this day he carries in his wallet the pass he used to access the World Trade Center for the last time.

The van Luis drove was parked many floors below the World Trade Center and did not survive the attacks. Neither did most of the businesses that received deliveries from the company Luis delivered for and so the delivery service was unable to recoup the losses and was forced to fold. Luis, however, had too much to work for – three sons – and so he decided to start a delivery business of his own.

Luis didn’t have enough cash to buy a van himself – he needed a loan. And he couldn’t find any banks that would lend him money to buy a van for a new delivery business. He did, however, find a microfinance institution based in Manhattan, ACCION USA, who would lend him the money for the van, recognizing that he was hard-working and had the experience to be successful in his own delivery company. Luis bought a van, and starting with only two of the old company’s customers, he established a new client base.

Since Luis launched his own delivery company, business has been slow at first, but is increasing, and he now owns a second van so that he can hire additional help when he needs it. He still works hard, picking up bread for his first delivery route at 2 a.m., and visiting two more bakeries at 6 a.m. and again at 11 a.m. for more deliveries. He makes dozens of stops every day to restaurants and hotels throughout New York City.

Most recently, Luis applied for a second loan through ACCION USA. He needs to refrigerate his van so that when he makes deliveries in the hot New York summer, the cakes don’t spoil. Refrigerating an entire delivery van is not cheap, and he needed $5,625 to buy a cooling system for the vehicle. ACCION USA, as one of Kiva’s pilot partnerships in the US, posted Luis’ loan request on Kiva.org and it has already been funded by 160 Kiva Lenders.

Luis admits that he works hard, but he has a strong motivation to do so – three sons, two of whom are serving as Marines, one of whom just recently returned safe from Iraq. Luis’ youngest son Luigi, is thirteen years old, and the namesake for Luis’ company. Luis jokes that his thirteen year old son is the actual owner of the business, but he is very sincere when he says that his son is the reason he works so hard.

Luis, like fathers around the world, is striving to build a better life for his children. He is proud of the life he is leading, the legacy that he is creating and the prosperity he is providing for his family. Every morning when Luis climbs into the van he owns, he sees his son's name proudly displayed on the door and works hard to build that legacy.

Watch the video below to see Luis telling his story to Kiva.org President Premal Shah, ACCION USA President & CEO Gina Harman and ACCION USA CFO Paul Quintero.



-- posted by Erica Dorn at 01:06 pm PDT

Every month we hold an open conference call as an open forum for lenders and Kiva staff to talk about what's going on. Please join us for our next call, scheduled for Wednesday, July 15th at 2 pm PDT.

The call in info is:

Dial in US: 866-740-1260
Dial in (Outside US): +1 303-248-0285
Access Code: 6415483

We hope to hear you on the line!

-- posted by Gerard Niemira at 10:06 am PDT

It takes a lot to make the work we do at Kiva possible. From expertise to awareness building and funding—our supporters make a HUGE difference. Here are some folks you might not know about who have helped Kiva in the first half of 2009:

Ernst & Young: At the 2008, Clinton Global Initiative Annual Meeting, Ernst & Young, the global professional services organization awarded Kiva a donation of $1,000,000 of in-kind resources over three years. As part of its commitment to entrepreneurship and corporate responsibility, Ernst & Young will mobilize its skilled professionals around the world to assist Kiva in increasing the transparency of its micro-lending process.

American Express: With the help of Kiva lenders and American Express Cardmembers, Kiva’s project “Loans that Change Lives” garnered 19,543 votes to earn a $300,000 third place prize in the 2008 Members Project competition. Kiva is using its new funds to expand the selection of business that can be funded on the Kiva Web site. For more information see Membersproject.com

John D. and Catherine T. MacArthur Foundation – You’ve probably heard the name a thousand times on NPR. The MacArthur Foundation supports creative people and effective institutions committed to building a more just, verdant, and peaceful world. MacArthur is one of the nation’s largest independent foundations and Kiva is proud to have them aboard as one of its newest supporters. The MacArthur Foundation awarded Kiva a $250,000 general support grant to strengthen Kiva’s online microfinance marketplace.

7Bar Foundation – 7Bar Foundation, though its philanthropic brand and fundraising arm, Lingerie Miami hosts an annual fashion show and fundraiser that celebrates femininity and empowers women through microfinance. The only fashion show to showcase the world’s finest couture and luxury lingerie labels on one runway in the U.S., Lingerie Miami’s two-pronged mission is to raise funds for microfinance Institutions (MFI’s) locally and globally and to create awareness of the power and effectiveness of microfinance to a critical mass of consciousness. As part of the Lingerie Miami event in 2009, 7Bar Foundation raised $50,000 to support Kiva’s efforts to reach more entrepreneurs in Mexico.

Purex – Can you change lives while changing your laundry? It sounds odd at first. What does laundry have to do with Kiva? We asked ourselves the same question. But when we found that some of Purex’s employees were avid Kiva lenders and that they wanted to find a way to let people discover Kiva and make a difference by connecting their Purex purchase with Purex loans to mom entrepreneurs, we thought it would be an interesting experiment in small actions adding up to big impact.

When you purchase Purex® Complete 3-in-1™ Laundry Sheets you can redirect one dollar from your purchase to Kiva. Simply log on to PurexChangesLives.com to learn more about the Purex-Kiva partnership. Try it out. You might find that something as simple as changing laundry can be part of how you change lives with Kiva.

Intel: In 2009, Intel launched the small things challenge. Through this online challenge, Intel will donate 25¢ per click to support Kiva.org and Save the Children. Intel wants to rally millions of people so that 25¢ can become as much as $300,000 in 2009.

Fenwick & West: Fenwick & West is a national law firm that provides comprehensive legal services to technology and life sciences clients of national and international prominence. Fenwick & West provides Kiva with pro-bono legal services and advice. In addition to legal services, the law firm provided Kiva with a donation of $25,000 for general support.

The Deshpande Foundation: The Deshpande Foundation is the family Foundation of Gururaj (“Desh”) and Jaishree Deshpande, of Andover, MA. Founded in 1996, the Deshpande Foundation is one of the leading philanthropic Foundations in Massachusetts and India in the areas of innovation, entrepreneurship and international development. The Deshpande Foundation is helping Kiva figure out how to serve entrepreneurs in India though a $10,000 grant to explore the feasibility of launching Kiva field partnerships in India, including Deshpande Foundation partners in Northern Karnataka.

Thank you to all our new supporters!

For more info and to see more organizations that help make Kiva run, check out our supporters page.

-- posted by Bennett Grassano at 05:06 pm PDT

For those who will have the opportunity to be in Paris, this is going to be an amazing day!  Kiva and Les Condors 2000 would like to invite you to join for some fun activities including a football (soccer) tournament, Latino music, Salsa classes, Pétanque game, drinks and more!  No ticket purchase required (this is a FREE event folks!) and no RSVP necessary.  And to top it off, all drink profits will go towards loans for Kiva entrepreneurs.  This event is a unique opportunity to meet others in the Kiva community and we encourage you to share this invitation with family and friends who may be in the area.  

All are welcome, so help us spread the word and come on out to support Kiva on a summer afternoon in Paris.  You can find more information about the event here.  We are also looking for volunteers to help out, so if you’re interested and want to share your lending experience on Kiva, please comment on the Facebook event page and someone will be in touch with you directly.  We hope to see you at the Stade de la Plaine in Paris on Saturday, June 27th!  

For more information on Kiva in French, please see here. 

-- posted by Chelsa Bocci at 12:06 am PDT

The bLENDer was the first event of its kind and one celebrating and raising awareness about microfinance in the United States. Co-hosted by ACCION USA, the largest microlender in the United States, it had all of the elements of Kiva- under one roof.


It was amazing to see the line-up at the door as the house filed with guests from all corners of Kiva: Kiva Lenders, Kiva Borrowers, Kiva Fellows, microfinance staff, donors, board members, executives and friends who came out to support a worthy cause.


Kiva Fellow Alumni (Adam Grenier, Whittney Zimmerman, Nick Roose) hosted the "Lending Lounge"- a room where event guests could learn about Kiva and make a loan. It was incredible - imagine new Kiva Lenders getting the full experience as former fellows navigated them all over the Kiva website and helped them make a loan to one of our entrepreneurs that were also at the event. So cool!

Luis, an ACCION USA entrepreneur who was also featured on ABC, came with his son to the event. They brought along some wonderful pastries from one of the bakeries he has a delivery contract with.

To learn more about the importance of microfinance in the U.S., check out http://www.accionusa.org/.

-- posted by Erica Dorn at 09:06 am PDT

Our next Kiva Community Conference Call is scheduled for tomorrow - Wednesday, June 17th at 2 pm PDT.This is an opportunity for Kiva lenders to call in and ask us anything! The call in info is:

Dial in US: 866-740-1260
Dial in (Outside US): +1 303-248-0285
Access Code: 6415483

We hope to hear you on the line!

-- posted by Gerard Niemira at 06:06 pm PDT

-- posted by MAJ at 02:06 pm PDT

Kiva's first ever loans in Kyrgyzstan were posted today through our new partner, Mol Bulak. You can visit Mol Bulak's partner page to learn more about this great, socially-focused and highly motivated new partner. Keep an eye out for loans for additional entrepreneurs in the next few days. The loans include some interesting businesses, like a retirement home, an orphanage, and more. The new loans are funding quickly, so catch them while you can!

-- posted by Jenny Boyd at 11:06 am PDT

Remember to show your appreciation to the fathers in your life by purchasing a Kiva Gift Certificate!  It's easy, convenient, and they get to know they're supporting an entrepreneur with a dream somewhere around the world. 

-- posted by Chelsa Bocci at 03:06 pm PDT

A shout out to all those in the New York City area, don’t forget to join Kiva and ACCION on Monday evening, June 15^th, for a bLENDer.  This party will be in celebration of this new partnership and Kiva’s recent expansion into microfinance markets in the developed world. We look forward to the day when money is flowing in all directions around the world through Kiva and we celebrate ACCION USA for helping to make this possible.

Please help us spread the word and don't forget to RSVP by emailing: bLENDer2009Invite@gmail.com

-- posted by Chelsa Bocci at 12:06 pm PDT