MICROCAPITAL STORY: Kiva Lenders Loaned a Record USD $3.6m Despite Economic Downturn

Despite the continuing credit crunch, Kiva.org lenders loaned a record USD 3.8 million in October, the highest loan volume for any single month.  Since its inception three years ago, Kiva.org’s 364,153 lenders have lent USD 50.2 million to entrepreneurs in 42 countries.  The company expects to achieve a cumulative loan portfolio of USD 100 million by the end of 2009.

Established in 2005, Kiva.org is a San Francisco, California-based non-profit online micro-lending platform.  Kiva.org partners with 93 microfinance institutions spread across 42 countries.  MicroCapital has reported on Kiva.org in the past, as well as similar online microfinance lending platforms such as Opportunity International’s OptINnow.

By Iyanna Holmes, Reseach Assistant

Additional Resources:

Kiva.org:  Facts & Statistics

MarketWatch: Lending Through Kiva.org Repaid at 98 Percent: Despite Economic Downturn, Kiva Lenders Continue to Invest for Social Return

MICROCAPITAL STORY:  October 23, 2008, Opportunity International Emulates Kiva With the Launch of OptINnow

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