Kiva’s mission is to connect people, through lending, for the sake of alleviating poverty. Kiva empowers individuals to lend to an entrepreneur across the globe. By combining microfinance with the Internet, Kiva is creating a global community of people connected through lending. As of November 2009, Kiva has facilitated over $100 million in loans.
Kiva will be making the promotion of the “To Catch a Dollar” campaign one of their top PR priorities for the first quarter of 2011. They will write original blog posts promoting the campaign, market it through their monthly newsletter, promote the campaign through their social media channels, and support our efforts through traditional PR methods such as distributing press releases and making spokespeople available for interviews.
Kiva 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 businesses. 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 allows microfinance institutions around the world, called “Field Partners”, to post profiles of qualified local entrepreneurs 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-loan it to another entrepreneur.