.gif)
Kiva (organization)
Encyclopedia
Kiva Microfunds is an organization that allows people to lend money via the Internet
to microfinance
institutions in developing countries
around the world and in the United States
, which in turn lend the money to small business
es and student
s. It is a 501(c)(3) non-profit organization
headquartered in San Francisco, supported by loans and donations from its users and through partnerships with businesses and other institutions. Kiva itself does not charge any interest; the loans made by Kiva members are passed interest-free to the independent field partner indicated for each loan. These interest rates are disclosed and are discussed in the relevant section on the Kiva website and in this article below.
institutions around the world, called "Field Partners", to post profiles of qualified local entrepreneur
s on its website, www.kiva.org. Lenders browse and choose an entrepreneur they wish to fund. Kiva aggregates loan capital from individual lenders and transfers it to the appropriate Field Partners to disburse to the entrepreneur chosen by the lender. As the entrepreneurs repay their loans, the Field Partners remit funds back to Kiva. As the loan is repaid, the Kiva lenders can withdraw their principal or re-lend it to another entrepreneur.
Lenders' funds are transferred to Kiva through PayPal
, which does not collect its usual fees in this case. It is possible to pay by credit card through PayPal's website, even without a PayPal account, but a PayPal account is needed to withdraw funds. Field Partners charge interest to their borrowers, although Kiva claims to keep track of how much interest is charged and will not work with those charging unfair interest rates. Kiva lenders do not receive any interest because Kiva is not registered with the US Government as a broker.
Kiva was founded in October 2005 by Matt Flannery and Jessica Jackley
. The couple's initial interest in microfinance was inspired by a 2003 lecture given by Grameen Bank
's Muhammad Yunus at Stanford Business School.
Jessica Jackley, formerly Jessica Flannery, worked at the school and invited Matt Flannery to attend the presentation; this was the first time Mr. Flannery had heard of microfinance, but it served as a "call to action" for Jessica. Soon after, Jessica began working as a consultant for the nonprofit Village Enterprise Fund, which worked to help start small businesses in East Africa
. While visiting Jessica in Africa, Matt and Jessica spent time interviewing entrepreneurs about the problems they faced in starting ventures and found the lack of access to start-up capital was a common theme. After returning from Africa, they began developing their plan for a microfinance project that would grow into Kiva, which means "unity" in Swahili
. Kiva is run by a team with experience in business, microfinance
, and technology.
, Kiva's website ranks in the top 15,000 websites on the Internet.
The total costs of running Kiva in 2008 totaled $4.7M. During 2008, the user base released about $37M to low-income entrepreneurs listed on the Kiva website. So, for every dollar spent on operations, Kiva lenders sent about $8 for loans.
, argue that the interest rates of many microcredit institutions are unreasonably high. In his latest book he argues that microfinance institutions that charge more than 15% above their long-term operating costs should face penalties.
For example, in 2009 micro-loans from Kiva partners in Guatemala averaged 23.16% for the equivalent of US$430 lent on average, comparable to the commercial BanRural rate of 24.5% for a loan of US$635. (For reference, the inflation rate for Guatemala typically varies between 5 and 10% and was just 0.62% in 2009.)
Kiva defends the interest rates of its lenders, however, saying its field partners provide much better rates than local alternatives, but must charge what they do because "the costs of making a micro-loan in the developing world are higher versus larger loans in the West."
Although cases of fraud do exist Kiva made the following statement on the partner page for SEED:
s collected by field partners are enough to pay for significant defaults depends on local economic conditions for each field partner.
Some lenders pulled their funds (often moving them to other microfinance sites such as United Prosperity
, Wokai
, Energy in Common
, etc.) after repeated inquiries did not get Kiva to change its policy.
As of January 2011, there are a total of 161 field partners listed on the Kiva website and their status is as following: 88 Active, 9 Paused, 29 Pilot and 35 Closed. The following table shows the interest rate charged by a sampling of field partners.
Internet
The Internet is a global system of interconnected computer networks that use the standard Internet protocol suite to serve billions of users worldwide...
to microfinance
Microfinance
Microfinance is the provision of financial services to low-income clients or solidarity lending groups including consumers and the self-employed, who traditionally lack access to banking and related services....
institutions in developing countries
Developing country
A developing country, also known as a less-developed country, is a nation with a low level of material well-being. Since no single definition of the term developing country is recognized internationally, the levels of development may vary widely within so-called developing countries...
around the world and in the United States
United States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
, which in turn lend the money to small business
Small business
A small business is a business that is privately owned and operated, with a small number of employees and relatively low volume of sales. Small businesses are normally privately owned corporations, partnerships, or sole proprietorships...
es and student
Student
A student is a learner, or someone who attends an educational institution. In some nations, the English term is reserved for those who attend university, while a schoolchild under the age of eighteen is called a pupil in English...
s. It is a 501(c)(3) non-profit organization
Non-profit organization
Nonprofit organization is neither a legal nor technical definition but generally refers to an organization that uses surplus revenues to achieve its goals, rather than distributing them as profit or dividends...
headquartered in San Francisco, supported by loans and donations from its users and through partnerships with businesses and other institutions. Kiva itself does not charge any interest; the loans made by Kiva members are passed interest-free to the independent field partner indicated for each loan. These interest rates are disclosed and are discussed in the relevant section on the Kiva website and in this article below.
Lending process
Kiva allows microfinanceMicrofinance
Microfinance is the provision of financial services to low-income clients or solidarity lending groups including consumers and the self-employed, who traditionally lack access to banking and related services....
institutions around the world, called "Field Partners", to post profiles of qualified local entrepreneur
Entrepreneur
An entrepreneur is an owner or manager of a business enterprise who makes money through risk and initiative.The term was originally a loanword from French and was first defined by the Irish-French economist Richard Cantillon. Entrepreneur in English is a term applied to a person who is willing to...
s on its website, www.kiva.org. Lenders browse and choose an entrepreneur they wish to fund. Kiva aggregates loan capital from individual lenders and transfers it to the appropriate Field Partners to disburse to the entrepreneur chosen by the lender. As the entrepreneurs repay their loans, the Field Partners remit funds back to Kiva. As the loan is repaid, the Kiva lenders can withdraw their principal or re-lend it to another entrepreneur.
Lenders' funds are transferred to Kiva through PayPal
PayPal
PayPal is an American-based global e-commerce business allowing payments and money transfers to be made through the Internet. Online money transfers serve as electronic alternatives to paying with traditional paper methods, such as checks and money orders....
, which does not collect its usual fees in this case. It is possible to pay by credit card through PayPal's website, even without a PayPal account, but a PayPal account is needed to withdraw funds. Field Partners charge interest to their borrowers, although Kiva claims to keep track of how much interest is charged and will not work with those charging unfair interest rates. Kiva lenders do not receive any interest because Kiva is not registered with the US Government as a broker.
History
Jessica Jackley
Jessica Jackley is an American businesswoman and entrepreneur. She is the co-founder and CEO of ProFounder, a platform providing tools for small business entrepreneurs in the United States to access start-up capital through crowdfunding and community involvement.Prior to ProFounder, Jackley was...
. The couple's initial interest in microfinance was inspired by a 2003 lecture given by Grameen Bank
Grameen Bank
The Grameen Bank is a microfinance organization and community development bank started in Bangladesh that makes small loans to the impoverished without requiring collateral...
's Muhammad Yunus at Stanford Business School.
Jessica Jackley, formerly Jessica Flannery, worked at the school and invited Matt Flannery to attend the presentation; this was the first time Mr. Flannery had heard of microfinance, but it served as a "call to action" for Jessica. Soon after, Jessica began working as a consultant for the nonprofit Village Enterprise Fund, which worked to help start small businesses in East Africa
East Africa
East Africa or Eastern Africa is the easterly region of the African continent, variably defined by geography or geopolitics. In the UN scheme of geographic regions, 19 territories constitute Eastern Africa:...
. While visiting Jessica in Africa, Matt and Jessica spent time interviewing entrepreneurs about the problems they faced in starting ventures and found the lack of access to start-up capital was a common theme. After returning from Africa, they began developing their plan for a microfinance project that would grow into Kiva, which means "unity" in Swahili
Swahili language
Swahili or Kiswahili is a Bantu language spoken by various ethnic groups that inhabit several large stretches of the Mozambique Channel coastline from northern Kenya to northern Mozambique, including the Comoro Islands. It is also spoken by ethnic minority groups in Somalia...
. Kiva is run by a team with experience in business, microfinance
Microfinance
Microfinance is the provision of financial services to low-income clients or solidarity lending groups including consumers and the self-employed, who traditionally lack access to banking and related services....
, and technology.
Statistics
As of August 12, 2011, Kiva has distributed $233,493,400 in loans from 614,671 lenders. A total of 309,076 loans have been funded. The average loan size is $384.39. Its current repayment rate is 98.79%. According to AlexaAlexa Internet
Alexa Internet, Inc. is a California-based subsidiary company of Amazon.com that is known for its toolbar and Web site. Once installed, the toolbar collects data on browsing behavior which is transmitted to the Web site where it is stored and analyzed and is the basis for the company's Web traffic...
, Kiva's website ranks in the top 15,000 websites on the Internet.
The total costs of running Kiva in 2008 totaled $4.7M. During 2008, the user base released about $37M to low-income entrepreneurs listed on the Kiva website. So, for every dollar spent on operations, Kiva lenders sent about $8 for loans.
Pre-disbursement of funds
When Kiva began, lenders chose who could borrow their money. Since then, the system has changed, so that loans are disbursed to borrowers before their stories are posted to Kiva‘s website. This is disclosed on Kiva‘s site; each loan proposal states whether funds were pre-disbursed. Thus, lenders‘ loan funds are likely to go to borrowers other than those chosen by the lenders. Whether lenders‘ preferences are used for lender preference trend analysis by any field partners or Kiva is not stated. Kiva‘s response has been to keep pre-disbursing but be clearer about the process.Interest rates
Some people, including microfinance pioneer Muhammad YunusMuhammad Yunus
Muhammad Yunus is a Bangladeshi economist and founder of the Grameen Bank, an institution that provides microcredit to help its clients establish creditworthiness and financial self-sufficiency. In 2006 Yunus and Grameen received the Nobel Peace Prize...
, argue that the interest rates of many microcredit institutions are unreasonably high. In his latest book he argues that microfinance institutions that charge more than 15% above their long-term operating costs should face penalties.
For example, in 2009 micro-loans from Kiva partners in Guatemala averaged 23.16% for the equivalent of US$430 lent on average, comparable to the commercial BanRural rate of 24.5% for a loan of US$635. (For reference, the inflation rate for Guatemala typically varies between 5 and 10% and was just 0.62% in 2009.)
Kiva defends the interest rates of its lenders, however, saying its field partners provide much better rates than local alternatives, but must charge what they do because "the costs of making a micro-loan in the developing world are higher versus larger loans in the West."
Field Partner fraud and institutional weakness
In an article for the journal innovations Matt Flannery identified six microfinance institutions (MFIs) that he saw as involved in "serious fraud". These are the six that he identifies:- Women’s Economic Empowerment Consort (WEEC) -- The woman who started the MFI died, and when her husband took over the MFI became disorganised. Money that was intended for entrepreneurs was used to pay WEEC debts.
- Supporting Enterprises for Economic Development (SEED) -- In this instance Kiva pursued a legal case, however, it had not made much progress as of April 2008.
- Women's Initiative to Eradicate Poverty (WITEP) -- Flannery was personally involved in this investigation as discussed in the article that he wrote for innovations. Moses Onyango, a former friend of Matt and Jessica Flannery, was involved in creating a shell MFI to funnel money to himself.
- Rural Agency for Development (RAFODE) -- Flannery writes that this MFI embezzled funds away from borrowers who "never saw a penny."
- Afrique Emergence & Investissements (AE&I) -- A Kiva fellow was requested by AE&I to help get operations back to normal after severe computer problems. She notified the central office of irregularities and after an investigation Kiva closed the partnership (AE&I paid back all outstanding loans to Kiva). However, the MFI has published a rebuttal and other partners of AE&I including AfriCap Microfinance Investment Company, and OIKOCREDIT stood by it. AE&I has now been picked up by another online microfinance platform called MyC4MyC4MYC4 is a company that facilitates microcredits via the Internet to small businesses in developing countries.-History:MYC4 was founded as a joint venture in May 2006 by Mads Kjær, chairman and former CEO of the Kjær Group and Honorary Danish Consul to Ethiopia, and Tim Vang. MYC4 is currently...
. - MIFEX—Flannery writes that the loan sizes were inflated by 30 percent, and the excess was used to pay operational costs.
Although cases of fraud do exist Kiva made the following statement on the partner page for SEED:
- Please realise that our audit of SEED uncovered a true exception to the norm; the vast majority of our Field Partners administer your loans with the highest integrity. Kiva will continue to audit Field Partners to monitor the integrity of your loan and to make our website a model for transparency in international development.
Full-repayment frequency uncertainty
Whether defaults are extremely low has been questioned on the ground that a field partner may pay Kiva for loans defaulted to the field partner in order to maintain the field partner‘s good credit with Kiva. Whether interest rateInterest rate
An interest rate is the rate at which interest is paid by a borrower for the use of money that they borrow from a lender. For example, a small company borrows capital from a bank to buy new assets for their business, and in return the lender receives interest at a predetermined interest rate for...
s collected by field partners are enough to pay for significant defaults depends on local economic conditions for each field partner.
Bloodsports
There have also been concerns about loans which are intended for bloodsports, including cockfighting.Some lenders pulled their funds (often moving them to other microfinance sites such as United Prosperity
United Prosperity (organisation)
United Prosperity is a not-for-profit Web-based microcredit organisation.Unlike most microcredit or person-to-person lending organisations, United Prosperity does not directly lend to the micro-entrepreneur, but instead the micro-loans are used to provide a guarantee to a local bank, which lends to...
, Wokai
Wokai
Wokai is an organization that allows people to contribute directly to microfinance institutions in China, which in turn lend the money to entrepreneurs in rural China...
, Energy in Common
Energy in Common
Energy in Common is a not-for-profit organization, which is the first to enable microloans specifically and only for renewable energy technologies. EIC was founded by Hugh Whalan and Scott Tudman in 2009...
, etc.) after repeated inquiries did not get Kiva to change its policy.
Interest rates
According to its web site, Kiva quotes interest rates as the "self reported average rate charged by the Field Partner to the entrepreneur." As of January 7, 2010 35.21% is the Average Interest Rate and Fees Borrowers Pay (Portfolio Yield) to All Kiva Field Partners.As of January 2011, there are a total of 161 field partners listed on the Kiva website and their status is as following: 88 Active, 9 Paused, 29 Pilot and 35 Closed. The following table shows the interest rate charged by a sampling of field partners.
| Field Partner | Region | Interest Rate % | Status | Correct on |
|---|---|---|---|---|
| Ariana Financial Services Joint Stock Company (AFS), a partner of Mercy Corps | Afghanistan Afghanistan Afghanistan , officially the Islamic Republic of Afghanistan, is a landlocked country located in the centre of Asia, forming South Asia, Central Asia and the Middle East. With a population of about 29 million, it has an area of , making it the 42nd most populous and 41st largest nation in the world... |
36.00 | Active | January 7, 2010 |
| Aqroinvest Credit Union | Azerbaijan Azerbaijan Azerbaijan , officially the Republic of Azerbaijan is the largest country in the Caucasus region of Eurasia. Located at the crossroads of Western Asia and Eastern Europe, it is bounded by the Caspian Sea to the east, Russia to the north, Georgia to the northwest, Armenia to the west, and Iran to... |
19.00 | Active | January 7, 2010 |
| Alidé | Benin Benin Benin , officially the Republic of Benin, is a country in West Africa. It borders Togo to the west, Nigeria to the east and Burkina Faso and Niger to the north. Its small southern coastline on the Bight of Benin is where a majority of the population is located... |
31.00 | Active | January 7, 2010 |
| Emprender | Bolivia Bolivia Bolivia officially known as Plurinational State of Bolivia , is a landlocked country in central South America. It is the poorest country in South America... |
52.00 | Active | January 7, 2010 |
| Fundación Agrocapital, a partner of ACDI/VOCA | Bolivia Bolivia Bolivia officially known as Plurinational State of Bolivia , is a landlocked country in central South America. It is the poorest country in South America... |
23.00 | Active | January 7, 2010 |
| IMPRO | Bolivia Bolivia Bolivia officially known as Plurinational State of Bolivia , is a landlocked country in central South America. It is the poorest country in South America... |
19.00 | Active | January 7, 2010 |
| Pro Mujer Bolivia | Bolivia Bolivia Bolivia officially known as Plurinational State of Bolivia , is a landlocked country in central South America. It is the poorest country in South America... |
30.00 | Active | January 7, 2010 |
| Zene za Zene, a partner of Women for Women International | Bosnia and Herzegovina Bosnia and Herzegovina Bosnia and Herzegovina , sometimes called Bosnia-Herzegovina or simply Bosnia, is a country in Southern Europe, on the Balkan Peninsula. Bordered by Croatia to the north, west and south, Serbia to the east, and Montenegro to the southeast, Bosnia and Herzegovina is almost landlocked, except for the... |
28.00 | Paused | January 7, 2010 |
| AMK | Cambodia Cambodia Cambodia , officially known as the Kingdom of Cambodia, is a country located in the southern portion of the Indochina Peninsula in Southeast Asia... |
37.00 | Active | January 7, 2010 |
| CREDIT, a partner of World Relief | Cambodia Cambodia Cambodia , officially known as the Kingdom of Cambodia, is a country located in the southern portion of the Indochina Peninsula in Southeast Asia... |
29.00 | Active | January 7, 2010 |
| Hattha Kaksekar Limited (HKL), a partner of Save the Children | Cambodia Cambodia Cambodia , officially known as the Kingdom of Cambodia, is a country located in the southern portion of the Indochina Peninsula in Southeast Asia... |
29.00 | Active | January 7, 2010 |
| MAXIMA Mikroheranhvatho Co., Ltd. | Cambodia Cambodia Cambodia , officially known as the Kingdom of Cambodia, is a country located in the southern portion of the Indochina Peninsula in Southeast Asia... |
30.00 | Active | January 7, 2010 |
| Grounded and Holistic Approach for People's Empowerment (GHAPE) | Cameroon Cameroon Cameroon, officially the Republic of Cameroon , is a country in west Central Africa. It is bordered by Nigeria to the west; Chad to the northeast; the Central African Republic to the east; and Equatorial Guinea, Gabon, and the Republic of the Congo to the south. Cameroon's coastline lies on the... |
18.00 | Active | January 7, 2010 |
| HOPE DRC, a partner of HOPE International | Democratic Republic of the Congo Democratic Republic of the Congo The Democratic Republic of the Congo is a state located in Central Africa. It is the second largest country in Africa by area and the eleventh largest in the world... |
80.00 | Active | March 16, 2010 |
| Esperanza International Dominican Republic, a partner of HOPE International | Dominican Republic Dominican Republic The Dominican Republic is a nation on the island of La Hispaniola, part of the Greater Antilles archipelago in the Caribbean region. The western third of the island is occupied by the nation of Haiti, making Hispaniola one of two Caribbean islands that are shared by two countries... |
42.00 | Active | January 7, 2010 |
| Apoyo Integral | Ecuador Ecuador Ecuador , officially the Republic of Ecuador is a representative democratic republic in South America, bordered by Colombia on the north, Peru on the east and south, and by the Pacific Ocean to the west. It is one of only two countries in South America, along with Chile, that do not have a border... |
40.00 | Active | January 7, 2010 |
| Apoyo Integral | El Salvador El Salvador El Salvador or simply Salvador is the smallest and the most densely populated country in Central America. The country's capital city and largest city is San Salvador; Santa Ana and San Miguel are also important cultural and commercial centers in the country and in all of Central America... |
32.00 | Active | January 7, 2010 |
| Christian Rural Aid Network (CRAN) | Ghana Ghana Ghana , officially the Republic of Ghana, is a country located in West Africa. It is bordered by Côte d'Ivoire to the west, Burkina Faso to the north, Togo to the east, and the Gulf of Guinea to the south... |
44.00 | Active | January 7, 2010 |
| Sinapi Aba Trust (SAT) | Ghana Ghana Ghana , officially the Republic of Ghana, is a country located in West Africa. It is bordered by Côte d'Ivoire to the west, Burkina Faso to the north, Togo to the east, and the Gulf of Guinea to the south... |
57.00 | Active | January 7, 2010 |
| Asociación ASDIR | Guatemala Guatemala Guatemala is a country in Central America bordered by Mexico to the north and west, the Pacific Ocean to the southwest, Belize to the northeast, the Caribbean to the east, and Honduras and El Salvador to the southeast... |
26.00 | Active | January 7, 2010 |
| The Foundation for Assistance for Small Businesses (FAPE) | Guatemala Guatemala Guatemala is a country in Central America bordered by Mexico to the north and west, the Pacific Ocean to the southwest, Belize to the northeast, the Caribbean to the east, and Honduras and El Salvador to the southeast... |
54.00 | Active | January 7, 2010 |
| Prisma Honduras | Honduras Honduras Honduras is a republic in Central America. It was previously known as Spanish Honduras to differentiate it from British Honduras, which became the modern-day state of Belize... |
44.00 | Active | January 7, 2010 |
| DINARI Foundation | Indonesia Indonesia Indonesia , officially the Republic of Indonesia , is a country in Southeast Asia and Oceania. Indonesia is an archipelago comprising approximately 13,000 islands. It has 33 provinces with over 238 million people, and is the world's fourth most populous country. Indonesia is a republic, with an... |
22.00 | Active | January 7, 2010 |
| Al-Thiqa Organization | Iraq Iraq Iraq ; officially the Republic of Iraq is a country in Western Asia spanning most of the northwestern end of the Zagros mountain range, the eastern part of the Syrian Desert and the northern part of the Arabian Desert.... |
35.70 | Pilot | July 4, 2011 |
| Iraqi Al-Aman Center/Kirkuk | Iraq Iraq Iraq ; officially the Republic of Iraq is a country in Western Asia spanning most of the northwestern end of the Zagros mountain range, the eastern part of the Syrian Desert and the northern part of the Arabian Desert.... |
N/A | Closed | March 16, 2010 |
| Faulu Kenya | Kenya Kenya Kenya , officially known as the Republic of Kenya, is a country in East Africa that lies on the equator, with the Indian Ocean to its south-east... |
31.00 | Active | January 7, 2010 |
| Kenya Agency for Development of Enterprise and Technology (KADET), a partner of World Vision International | Kenya Kenya Kenya , officially known as the Republic of Kenya, is a country in East Africa that lies on the equator, with the Indian Ocean to its south-east... |
27.10 | Active | September 7, 2011 |
| Kisumu Medical & Education Trust (K-MET) | Kenya Kenya Kenya , officially known as the Republic of Kenya, is a country in East Africa that lies on the equator, with the Indian Ocean to its south-east... |
10.00 | Paused | October 16, 2010 |
| MCC Mol Bulak Finance LLC | Kyrgyzstan Kyrgyzstan Kyrgyzstan , officially the Kyrgyz Republic is one of the world's six independent Turkic states . Located in Central Asia, landlocked and mountainous, Kyrgyzstan is bordered by Kazakhstan to the north, Uzbekistan to the west, Tajikistan to the southwest and China to the east... |
47.30 | Active | July 4, 2011 |
| Al Majmoua Lebanese Association for Development. | Lebanon Lebanon Lebanon , officially the Republic of LebanonRepublic of Lebanon is the most common term used by Lebanese government agencies. The term Lebanese Republic, a literal translation of the official Arabic and French names that is not used in today's world. Arabic is the most common language spoken among... |
32.00 | Active | January 7, 2010 |
| Ameen s.a.l. | Lebanon Lebanon Lebanon , officially the Republic of LebanonRepublic of Lebanon is the most common term used by Lebanese government agencies. The term Lebanese Republic, a literal translation of the official Arabic and French names that is not used in today's world. Arabic is the most common language spoken among... |
34.00 | Active | January 7, 2010 |
| Local Enterprise Assistance Program (LEAP), a partner of World Hope International and World Relief | Liberia Liberia Liberia , officially the Republic of Liberia, is a country in West Africa. It is bordered by Sierra Leone on the west, Guinea on the north and Côte d'Ivoire on the east. Liberia's coastline is composed of mostly mangrove forests while the more sparsely populated inland consists of forests that open... |
64.00 | Active | January 7, 2010 |
| Soro Yiriwaso, a partner of Save the Children | Mali Mali Mali , officially the Republic of Mali , is a landlocked country in Western Africa. Mali borders Algeria on the north, Niger on the east, Burkina Faso and the Côte d'Ivoire on the south, Guinea on the south-west, and Senegal and Mauritania on the west. Its size is just over 1,240,000 km² with... |
24.00 | Active | January 7, 2010 |
| Admic Nacional | Mexico Mexico The United Mexican States , commonly known as Mexico , is a federal constitutional republic in North America. It is bordered on the north by the United States; on the south and west by the Pacific Ocean; on the southeast by Guatemala, Belize, and the Caribbean Sea; and on the east by the Gulf of... |
69.00 | Closed | January 7, 2010 |
| Fundación para la Vivienda Progresiva (FVP), a partner of CHF International | Mexico Mexico The United Mexican States , commonly known as Mexico , is a federal constitutional republic in North America. It is bordered on the north by the United States; on the south and west by the Pacific Ocean; on the southeast by Guatemala, Belize, and the Caribbean Sea; and on the east by the Gulf of... |
24.00 | Active | January 7, 2010 |
| Microinvest | Moldova Moldova Moldova , officially the Republic of Moldova is a landlocked state in Eastern Europe, located between Romania to the West and Ukraine to the North, East and South. It declared itself an independent state with the same boundaries as the preceding Moldavian Soviet Socialist Republic in 1991, as part... |
32.00 | Paused | January 7, 2010 |
| XacBank | Mongolia Mongolia Mongolia is a landlocked country in East and Central Asia. It is bordered by Russia to the north and China to the south, east and west. Although Mongolia does not share a border with Kazakhstan, its western-most point is only from Kazakhstan's eastern tip. Ulan Bator, the capital and largest... |
25.00 | Active | January 7, 2010 |
| Patan Business and Professional Women (BPW Patan) | Nepal Nepal Nepal , officially the Federal Democratic Republic of Nepal, is a landlocked sovereign state located in South Asia. It is located in the Himalayas and bordered to the north by the People's Republic of China, and to the south, east, and west by the Republic of India... |
17.00 | Active | January 7, 2010 |
| ADIM ADEPHCA (Association of the Atlantic Coast for the Human Advancement of Indigenous and Mestizo peoples) | Nicaragua Nicaragua Nicaragua is the largest country in the Central American American isthmus, bordered by Honduras to the north and Costa Rica to the south. The country is situated between 11 and 14 degrees north of the Equator in the Northern Hemisphere, which places it entirely within the tropics. The Pacific Ocean... |
24.00 | Active | January 7, 2010 |
| ADIM (Asociación Alternativa Para el Desarrollo Integral de las Mujeres) | Nicaragua Nicaragua Nicaragua is the largest country in the Central American American isthmus, bordered by Honduras to the north and Costa Rica to the south. The country is situated between 11 and 14 degrees north of the Equator in the Northern Hemisphere, which places it entirely within the tropics. The Pacific Ocean... |
55.00 | Active | January 7, 2010 |
| AFODENIC | Nicaragua Nicaragua Nicaragua is the largest country in the Central American American isthmus, bordered by Honduras to the north and Costa Rica to the south. The country is situated between 11 and 14 degrees north of the Equator in the Northern Hemisphere, which places it entirely within the tropics. The Pacific Ocean... |
9.70 | Active | January 7, 2010 |
| CEPRODEL | Nicaragua Nicaragua Nicaragua is the largest country in the Central American American isthmus, bordered by Honduras to the north and Costa Rica to the south. The country is situated between 11 and 14 degrees north of the Equator in the Northern Hemisphere, which places it entirely within the tropics. The Pacific Ocean... |
36.00 | Active | January 7, 2010 |
| Fundación Leon 2000 | Nicaragua Nicaragua Nicaragua is the largest country in the Central American American isthmus, bordered by Honduras to the north and Costa Rica to the south. The country is situated between 11 and 14 degrees north of the Equator in the Northern Hemisphere, which places it entirely within the tropics. The Pacific Ocean... |
36.00 | Active | January 7, 2010 |
| Lift Above Poverty Organization (LAPO) | Nigeria Nigeria Nigeria , officially the Federal Republic of Nigeria, is a federal constitutional republic comprising 36 states and its Federal Capital Territory, Abuja. The country is located in West Africa and shares land borders with the Republic of Benin in the west, Chad and Cameroon in the east, and Niger in... |
60.00 | Paused | May 5, 2010 |
| Asasah, a partner of Save the Children | Pakistan Pakistan Pakistan , officially the Islamic Republic of Pakistan is a sovereign state in South Asia. It has a coastline along the Arabian Sea and the Gulf of Oman in the south and is bordered by Afghanistan and Iran in the west, India in the east and China in the far northeast. In the north, Tajikistan... |
37.00 | Active | January 7, 2010 |
| Palestine for Credit & Development (FATEN) | Palestine Palestine Palestine is a conventional name, among others, used to describe the geographic region between the Mediterranean Sea and the Jordan River, and various adjoining lands.... |
15.30 | Pilot | January 7, 2010 |
| Ryada, a partner of CHF International | Palestine Palestine Palestine is a conventional name, among others, used to describe the geographic region between the Mediterranean Sea and the Jordan River, and various adjoining lands.... |
16.00 | Pilot | January 7, 2010 |
| Fundación Paraguaya | Paraguay Paraguay Paraguay , officially the Republic of Paraguay , is a landlocked country in South America. It is bordered by Argentina to the south and southwest, Brazil to the east and northeast, and Bolivia to the northwest. Paraguay lies on both banks of the Paraguay River, which runs through the center of the... |
48.00 | Active | January 7, 2010 |
| Asociación Arariwa | Peru Peru Peru , officially the Republic of Peru , is a country in western South America. It is bordered on the north by Ecuador and Colombia, on the east by Brazil, on the southeast by Bolivia, on the south by Chile, and on the west by the Pacific Ocean.... |
32.00 | Active | January 7, 2010 |
| EDAPROSPO | Peru Peru Peru , officially the Republic of Peru , is a country in western South America. It is bordered on the north by Ecuador and Colombia, on the east by Brazil, on the southeast by Bolivia, on the south by Chile, and on the west by the Pacific Ocean.... |
43.00 | Active | January 7, 2010 |
| FINCA Peru | Peru Peru Peru , officially the Republic of Peru , is a country in western South America. It is bordered on the north by Ecuador and Colombia, on the east by Brazil, on the southeast by Bolivia, on the south by Chile, and on the west by the Pacific Ocean.... |
63.00 | Active | January 7, 2010 |
| Manuela Ramos / CrediMUJER | Peru Peru Peru , officially the Republic of Peru , is a country in western South America. It is bordered on the north by Ecuador and Colombia, on the east by Brazil, on the southeast by Bolivia, on the south by Chile, and on the west by the Pacific Ocean.... |
46.00 | Active | January 7, 2010 |
| Microfinanzas PRISMA | Peru Peru Peru , officially the Republic of Peru , is a country in western South America. It is bordered on the north by Ecuador and Colombia, on the east by Brazil, on the southeast by Bolivia, on the south by Chile, and on the west by the Pacific Ocean.... |
40.00 | Active | January 7, 2010 |
| Manuela Ramos / CrediMUJER | Peru Peru Peru , officially the Republic of Peru , is a country in western South America. It is bordered on the north by Ecuador and Colombia, on the east by Brazil, on the southeast by Bolivia, on the south by Chile, and on the west by the Pacific Ocean.... |
46.00 | Active | January 7, 2010 |
| Ahon sa Hirap, Inc. (ASHI) | Philippines Philippines The Philippines , officially known as the Republic of the Philippines , is a country in Southeast Asia in the western Pacific Ocean. To its north across the Luzon Strait lies Taiwan. West across the South China Sea sits Vietnam... |
47.00 | Active | January 7, 2010 |
| ASKI | Philippines Philippines The Philippines , officially known as the Republic of the Philippines , is a country in Southeast Asia in the western Pacific Ocean. To its north across the Luzon Strait lies Taiwan. West across the South China Sea sits Vietnam... |
50.00 | Active | January 7, 2010 |
| Community Economic Ventures, Inc. (CEVI), a partner of VisionFund International | Philippines Philippines The Philippines , officially known as the Republic of the Philippines , is a country in Southeast Asia in the western Pacific Ocean. To its north across the Luzon Strait lies Taiwan. West across the South China Sea sits Vietnam... |
34.00 | Active | January 7, 2010 |
| Gata Daku Multi-purpose Cooperative (GDMPC) | Philippines Philippines The Philippines , officially known as the Republic of the Philippines , is a country in Southeast Asia in the western Pacific Ocean. To its north across the Luzon Strait lies Taiwan. West across the South China Sea sits Vietnam... |
30.00 | Active | January 7, 2010 |
| Hagdan sa Pag-uswag Foundation, Inc. (HSPFI) | Philippines Philippines The Philippines , officially known as the Republic of the Philippines , is a country in Southeast Asia in the western Pacific Ocean. To its north across the Luzon Strait lies Taiwan. West across the South China Sea sits Vietnam... |
32.00 | Active | January 7, 2010 |
| Paglaum Multi-Purpose Cooperative (PMPC) | Philippines Philippines The Philippines , officially known as the Republic of the Philippines , is a country in Southeast Asia in the western Pacific Ocean. To its north across the Luzon Strait lies Taiwan. West across the South China Sea sits Vietnam... |
48.00 | Active | January 7, 2010 |
| Vision Finance Company s.a. (VFC), a partner of World Vision International | Rwanda Rwanda Rwanda or , officially the Republic of Rwanda , is a country in central and eastern Africa with a population of approximately 11.4 million . Rwanda is located a few degrees south of the Equator, and is bordered by Uganda, Tanzania, Burundi and the Democratic Republic of the Congo... |
44.00 | Active | January 7, 2010 |
| South Pacific Business Development (SPBD) | Samoa Samoa Samoa , officially the Independent State of Samoa, formerly known as Western Samoa is a country encompassing the western part of the Samoan Islands in the South Pacific Ocean. It became independent from New Zealand in 1962. The two main islands of Samoa are Upolu and one of the biggest islands in... |
58.00 | Active | January 7, 2010 |
| Caurie Microfinance, a partner of Catholic Relief Services | Senegal Senegal Senegal , officially the Republic of Senegal , is a country in western Africa. It owes its name to the Sénégal River that borders it to the east and north... |
29.00 | Active | January 7, 2010 |
| Salone Microfinance Trust (SMT), a partner of ChildFund International | Sierra Leone Sierra Leone Sierra Leone , officially the Republic of Sierra Leone, is a country in West Africa. It is bordered by Guinea to the north and east, Liberia to the southeast, and the Atlantic Ocean to the west and southwest. Sierra Leone covers a total area of and has an estimated population between 5.4 and 6.4... |
51.00 | Active | January 7, 2010 |
| Caurie Microfinance, a partner of Catholic Relief Services | Senegal Senegal Senegal , officially the Republic of Senegal , is a country in western Africa. It owes its name to the Sénégal River that borders it to the east and north... |
29.00 | Active | January 7, 2010 |
| Senegal Ecovillage Microfinance Fund (SEM) | Senegal Senegal Senegal , officially the Republic of Senegal , is a country in western Africa. It owes its name to the Sénégal River that borders it to the east and north... |
8.00 | Paused | August 16, 2010 |
| UIMCEC, a partner of ChildFund International | Senegal Senegal Senegal , officially the Republic of Senegal , is a country in western Africa. It owes its name to the Sénégal River that borders it to the east and north... |
25.00 | Active | January 7, 2010 |
| BRAC South Sudan | South Sudan South Sudan South Sudan , officially the Republic of South Sudan, is a landlocked country located in the Sahel region of northeastern Africa. It is also part of the North Africa UN sub-region. Its current capital is Juba, which is also its largest city; the capital city is planned to be moved to the more... |
37.00 | Active | January 7, 2010 |
| BRAC Tanzania | Tanzania Tanzania The United Republic of Tanzania is a country in East Africa bordered by Kenya and Uganda to the north, Rwanda, Burundi, and the Democratic Republic of the Congo to the west, and Zambia, Malawi, and Mozambique to the south. The country's eastern borders lie on the Indian Ocean.Tanzania is a state... |
37.00 | Paused | January 7, 2010 |
| Sero Lease and Finance Ltd. (SELFINA) | Tanzania Tanzania The United Republic of Tanzania is a country in East Africa bordered by Kenya and Uganda to the north, Rwanda, Burundi, and the Democratic Republic of the Congo to the west, and Zambia, Malawi, and Mozambique to the south. The country's eastern borders lie on the Indian Ocean.Tanzania is a state... |
31.00 | Active | January 7, 2010 |
| Tujijenge Tanzania Ltd | Tanzania Tanzania The United Republic of Tanzania is a country in East Africa bordered by Kenya and Uganda to the north, Rwanda, Burundi, and the Democratic Republic of the Congo to the west, and Zambia, Malawi, and Mozambique to the south. The country's eastern borders lie on the Indian Ocean.Tanzania is a state... |
61.80 | Active | January 7, 2010 |
| Youth Self Employment Foundation (YOSEFO) | Tanzania Tanzania The United Republic of Tanzania is a country in East Africa bordered by Kenya and Uganda to the north, Rwanda, Burundi, and the Democratic Republic of the Congo to the west, and Zambia, Malawi, and Mozambique to the south. The country's eastern borders lie on the Indian Ocean.Tanzania is a state... |
31.00 | Active | January 7, 2010 |
| IMON International | Tajikstan | 38.00 | Active | January 7, 2010 |
| MLF MicroInvest, a partner of ACDI/VOCA | Tajikistan Tajikistan Tajikistan , officially the Republic of Tajikistan , is a mountainous landlocked country in Central Asia. Afghanistan borders it to the south, Uzbekistan to the west, Kyrgyzstan to the north, and China to the east.... |
38.00 | Active | January 7, 2010 |
| MLO Humo and Partners | Tajikistan Tajikistan Tajikistan , officially the Republic of Tajikistan , is a mountainous landlocked country in Central Asia. Afghanistan borders it to the south, Uzbekistan to the west, Kyrgyzstan to the north, and China to the east.... |
45.00 | Active | January 7, 2010 |
| FECECAV | Togo Togo Togo, officially the Togolese Republic , is a country in West Africa bordered by Ghana to the west, Benin to the east and Burkina Faso to the north. It extends south to the Gulf of Guinea, on which the capital Lomé is located. Togo covers an area of approximately with a population of approximately... |
26.00 | Active | January 7, 2010 |
| Microfund Togo | Togo Togo Togo, officially the Togolese Republic , is a country in West Africa bordered by Ghana to the west, Benin to the east and Burkina Faso to the north. It extends south to the Gulf of Guinea, on which the capital Lomé is located. Togo covers an area of approximately with a population of approximately... |
22.00 | Paused | January 7, 2010 |
| Women and Associations for Gain both Economic and Social (WAGES) | Togo Togo Togo, officially the Togolese Republic , is a country in West Africa bordered by Ghana to the west, Benin to the east and Burkina Faso to the north. It extends south to the Gulf of Guinea, on which the capital Lomé is located. Togo covers an area of approximately with a population of approximately... |
23.00 | Active | January 7, 2010 |
| Pearl Microfinance Limited | Uganda Uganda Uganda , officially the Republic of Uganda, is a landlocked country in East Africa. Uganda is also known as the "Pearl of Africa". It is bordered on the east by Kenya, on the north by South Sudan, on the west by the Democratic Republic of the Congo, on the southwest by Rwanda, and on the south by... |
47.00 | Active | January 7, 2010 |
| BRAC Uganda | Uganda Uganda Uganda , officially the Republic of Uganda, is a landlocked country in East Africa. Uganda is also known as the "Pearl of Africa". It is bordered on the east by Kenya, on the north by South Sudan, on the west by the Democratic Republic of the Congo, on the southwest by Rwanda, and on the south by... |
48.00 | Active | January 7, 2010 |
| HOPE Ukraine/Nadiya, a partner of HOPE International | Ukraine Ukraine Ukraine is a country in Eastern Europe. It has an area of 603,628 km², making it the second largest contiguous country on the European continent, after Russia... |
38.00 | Active | January 7, 2010 |
| ACCION USA | USA | 12.00 | Pilot | January 7, 2010 |
| Opportunity Fund | USA | 9.00 | Pilot | January 7, 2010 |
| Fund for Thanh Hoa Poor Women (TCVM), a partner of Save the Children | Vietnam Vietnam Vietnam – sometimes spelled Viet Nam , officially the Socialist Republic of Vietnam – is the easternmost country on the Indochina Peninsula in Southeast Asia. It is bordered by China to the north, Laos to the northwest, Cambodia to the southwest, and the South China Sea –... |
23.00 | Active | January 7, 2010 |
| SEDA | Vietnam Vietnam Vietnam – sometimes spelled Viet Nam , officially the Socialist Republic of Vietnam – is the easternmost country on the Indochina Peninsula in Southeast Asia. It is bordered by China to the north, Laos to the northwest, Cambodia to the southwest, and the South China Sea –... |
21.00 | Active | January 7, 2010 |
| TYM Fund | Vietnam Vietnam Vietnam – sometimes spelled Viet Nam , officially the Socialist Republic of Vietnam – is the easternmost country on the Indochina Peninsula in Southeast Asia. It is bordered by China to the north, Laos to the northwest, Cambodia to the southwest, and the South China Sea –... |
22.00 | Active | January 7, 2010 |
See also
- Flat rate (finance)Flat rate (finance)Flat interest rate loans are often used by traditional moneylenders in the informal economy of developing countries. They are also used by many microfinance institutions. One reason for their popularity is their ease of use...
- MicrocreditMicrocreditMicrocredit is the extension of very small loans to those in poverty designed to spur entrepreneurship. 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 Summit CampaignMicrocredit Summit CampaignThe Microcredit Summit Campaign is an American non-profit organization started as an effort to bring together microcredit practitioners, advocates, educational institutions, donor agencies, international financial institutions, non-governmental organizations and others involved with microcredit...
- Social entrepreneurshipSocial entrepreneurshipSocial entrepreneurship is the work of social entrepreneurs. A social entrepreneur recognizes a social problem and uses entrepreneurial principles to organize, create and manage a venture to achieve social change . While a business entrepreneur typically measures performance in profit and return, a...
- WokaiWokaiWokai is an organization that allows people to contribute directly to microfinance institutions in China, which in turn lend the money to entrepreneurs in rural China...