Kiva.org connects you to specific business somewhere in the developing world where microfinance is needed. Kiva.org is listing all businesses who´s connected to a microfinance institution joining the Kiva program. By lending out as little as $25 to a business you can make huge impact and help them getting economic stable. Usually the loan is repaid between 6-12 months and you receive journals from the business you´re sponsoring.
A microfinance institution is called field partner by Kiva. To qualify for Kiva´s field partner program the microfinance institution (MFI) needs to:
- serve at least 1000 active borrowers
- be registered as a legal entity in the operating country
- 1 year of financial audits
- have a history of at least 2-3 years lending to people for the purpose of helping them out of poverty
As a social investor you earn 0% interest rate from Kiva. The lending platform Kiva lends out the money to prevailling interest rates.