Causecast

by SARAH NELSON, Contributing Writer

Today marks the four year anniversary for featured Causecast partner and peer-to-peer micro-lending network, KIVA. What better way to celebrate four years of giving than to reach the $100 million mark in loans, with a whopping $60 million in loans in the last twelve months? Since its 2005 launch, more than half a million KIVA lenders have invested in 239,000 microbusinesses in more than 50 countries around the world- not to mention an appearance on Oprah and a Frontline special.

Four years ago, KIVA started as an idea to bring the genius of micro-entrepreneurship from the world of big investment to the average would-be- philanthropist. Realizing that not everyone can make a huge investment, but anyone can make some investment, KIVA has set out to redefine micro-lending in a way that let’s do-gooders of all kinds be part of the revolutionary concept of microfinance in the developing world. By empowering small business owners with micro-loans, usually a few hundred dollars, and partnering with lenders, who usually invest about $25, KIVA proves that a little really does go a long way.

This is how it works: KIVA works with Field Partners around the world to find entrepreneurs in need of a microloan. KIVA lenders, people like us, make a small investment and together provide a single loan. The borrower repays the loan over time and usually in about twelve months the loan is repaid and ready to be returned or reinvested. It works. And this is how I know:

I was a senior in college finishing up my senior thesis on the impact of microfinance on global poverty when I discovered KIVA, thanks to the Google “I’m feeling lucky” button. Knowing that talk is cheap, but action says everything, I invested $50 in two small businesses in Africa, just to test the theory. For a poor college student- that’s a serious investment. A few years later, I’ve been repaid and reinvested my initial seed eight times. That same $50 has been part of sixteen different KIVA loans. In fact, I thought I’d check out my KIVA account and had the chance to reinvest again today. Happy birthday, KIVA.

If you live in the Bay Area, KIVA is hosting a birthday party at The David Brown Center in Berkeley. It will run you about twenty bucks- all proceeds going back into KIVA.

You don’t have to live by the bay to celebrate with KIVA. Be a part of the thousands that have given microloans to bring hope to small business entrepreneurs around the world and make an investment today.

From all of at Causecast- HAPPY BIRTHDAY, KIVA. Looking forward to the next $100 million.

Photo by Jessica N. Diamond, flickr.