On International Women’s Day, we are celebrating and raising loan contributions to support the work of Kiva
In January, we created a team on Kiva as a way of promoting micro-loans across our company. Some people already used Kiva, but for most it was a new experience. So far it has been incredibly rewarding.
Sopra Steria is celebrating International Women’s Day by holding events – open to both men and women – at a number of our UK office locations. At these events, we will promote and support Kiva as an excellent way to offer micro-loans to borrowers to start or grow a business, go to school, access clean energy or realise their potential.
What is Kiva?
Kiva is an international non-profit organisation, founded in 2005 and based in San Francisco, with a mission to connect people through lending to alleviate poverty. We celebrate and support people looking to create a better future for themselves, their families and their communities.
100% of every dollar you lend on Kiva goes to funding loans. Kiva covers costs primarily through optional donations, as well as through support from grants and sponsors.
Kiva lends in 82 countries, with approximately 1.6m lenders and 2.2m borrowers. Currently there are about $937m of loans funded through Kiva.
Why are we using it?
It’s a loan not a donation. We believe lending alongside thousands of others is one of the most powerful and sustainable ways to create economic and social good. Lending on Kiva creates a partnership of mutual dignity and makes it easy to touch more lives with the same dollar. Fund a loan, get repaid, fund another.
How does it work?
The borrower begins by applying for a loan. This loan request then goes through an underwriting and approval process. Once approved, this request is then posted to Kiva for lenders to support. Lenders crowd-fund the loan in increments of $25 and once it is funded the borrower is then lent the money. Over time, the borrower then repays the loan. Lenders can then use the repayments to fund new loans, donate the money to Kiva, or withdraw the money.
What is the impact?
Since Kiva started in 2005 there have been over 1.1m loans funded through Kiva, with 83% of these going to women.
72k loans have helped people get access to clean energy, 29k loans have been for education, and 765k loans have been to people in the least developed countries.
How do I join in?
Are you supporting, or would like to know more about, Kiva? Leave a reply below or contact me by email.