The interest-free loans, which average just over $400, might enable a farmer in Kyrgystan to buy fertilizer and seeds, a woman in Kenya to start a market stall selling craft wares, or a fisherman in El Salvador to purchase a new engine for his boat.
Lenders can provide as little as $25 at a time, 100 percent of which is dedicated to funding loans, and can choose the borrower they wish to assist. Since 2005, Kiva has loaned nearly $692 million to 1.6 million people in 86 countries. The organization boasts at 98.73% return rate on its loans; lenders can reinvest the returns in other borrowers, or cash out at any time.” The Week, April 17, 2015
|