In August 2006, MicroCapital reported on Kiva.org, a microfinance website and non-profit organization founded in February 2005 by Stanford Business School graduates Matt and Jessica Flannery. The website allows individuals with PayPal accounts to view the clients of microfinance institutions (MFIs), provide money to help finance a micro loan for one of the said borrowers, and then receive email updates on the borrowing person. Money provided via Kiva.org is a loan, and is scheduled to be repaid to the provider between 6 and 12 months.
Continue reading “MICROCAPITAL STORY: “Peer to Peer” (P2P) Microfinance Business of Kiva.org (Kiva) Funds over USD 8.9 Million Internationally for Micro Loans”