“On Monday, Kiva, the platform dedicated to social lending for social good, surpassed $1 billion in loans on its online platform. More than 1.6 million donors lending $25 dollars at a time have helped 2.4 million people launch and expand their businesses, complete their education or pursue other opportunities for themselves and their communities. As the San Francisco-based nonprofit organization looks toward the next billion, it is evolving in a few key ways, framing its work as funding the next generation of entrepreneurs.
“When Kiva launched in 2006, it was the first crowdfunding platform for social good, and it remains the largest. But while it started as a microfinance website, new initiatives — including the Women’s Entrepreneurship Fund launched last year and the World Refugee Fund launched just last week — demonstrate how the organization is moving toward a new model of what Shah calls crowdfunding meets impact investing. Individuals and organizations alike are represented on the Kiva platform, such as Sikubora Limited, which is installing solar systems for homes, clinics, schools and businesses in Tanzania.” “By telling your story online on #crowdfunding platforms, whether it’s #Kiva or GlobalGiving or #Indiegogo, the hope is that we can make it more efficient to connect these amazing organizations on the frontline with people who want to help find solutions,” Shah told Devex in a past interview.