Pingie: HTTP:: Kiva Reaches 100 Million in Microloans

HTTP:: Kiva Reaches 100 Million in Microloans
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Sometimes, charity and financial institutions do go hand in hand. Kiva is a microfinance organization that helps small businesses and entrepreneurs in developing countries by issuing out small loans for those who wouldn't have much chance of getting one from the traditional financial institutions. The funding from the loans is 'crowdsourced' by encouraging people all over the world to make small donations that go toward the loans. The organization is now four years old and is announcing a major milestone, $100 million have been handed out in microloans since it was founded. “It's a wonderful accomplishment involving 584,189 Kiva Lenders in our first 4 years of operations. What's even more amazing to me is that it took over 1 year to raise our first $1 million . This year alone, we're on track to raise nearly $60 million. On behalf of the volunteers, staff, microfinance field partners and the entrepreneurs they serve -- thank you and congrats to Kiva Lenders for reaching !
this incredible milestone!,” Kiva President Premal Shah wrote about the milestone. The over half a million lenders that have pledged their money to Kiva.org giving $25 or more have helped 239,000 entrepreneurs in poor countries get their small businesses going. The organization makes use of the great tools and resources available on...
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http://news.softpedia.com/news/Kiva-Reaches-100-Million-in-Microloans-125822.shtml
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