Owen Collins
Honors Human Geography
Extra credit Assignment
11/24/17
Kiva Analysis

         Kiva Microfunds is a non-profit organization that gives poverty-stricken entrepreneurs the opportunity to receive loans via the internet.  Kiva.org presents both students and adults with the convenience of borrowing currency from other people around the world. Kiva.org has connections with donors and lenders throughout eighty countries who have helped support over three hundred and eight thousand borrowers.
         Kiva’s mission is to connect people through lending to alleviate poverty. This means that the goal of the organization is to connect people in poverty with those who are more fortunate and willing to donate and make the world a better place. Kiva’s goal is to build a connection between the wealthy and those in poverty so that those who have it better off will take the initiative and lend a helping hand.
         In 2005, Kiva successfully helped fund one million loans. These loans totaled up to over one billion dollars giving the organization a ninety-eight to ninety-nine percent reimbursement rate. In November of 2013, Kiva helped raise a little over one million dollars every three days. Kiva benefits through two platforms; Kiva.org and KivaZip.org. Kiva.org is known for helping borrowers through loans primarily filled by working class citizens whereas KivaZip.org helps borrowers gain access to loans by taking donations via mobile payment. Kiva.org does not add on any additional interest or taxes and fees. It is also one hundred percent supported and funded by grants and donations from its users. KivaZip.org demands that no interest be added onto the recipient’s loan. Both websites help financially support those who would like to kickstart their businesses or academic careers but maybe do not have the money to do so at the moment. Both websites also give the recipient the option to create a profile and tell their story so the donor can know more about the cause they are lending their money to.  
         Kiva.org allows both men and women to seek financial support from donors and investors. Donors start their selection process by choosing a category that interests them most. Next, the donor browses through profiles and descriptions of people around the world to find someone that fits their mindset. Finally, the donor types in their credit card information and selects the amount they would like to bestow upon the person they have chosen in twenty-five dollar increments. Donors transfer their funds through their accounts and into Kiva to be processed and eventually sorted and sent to where they have requested. All transactions are required to be made via credit card. Any credit card will work but you will be required to set up a PayPal account when you choose to withdraw your funds from the organization.
         Upon accessing the donor’s funds, the recipient must verify that they are the receiver by showing their claim and profile information. After loans are handled by recipients, the donors are sent a confirmation email proving that their donation has made it to its location. Finally, the donor receives a monthly schedule that includes what percentage of the donation will be given back per month depending on the length of the reimbursement plan. This could last anywhere between one month and five years. The recipient is then reminded that a certain amount of money is due at the end of each month and if failed to meet the date, consequences will follow.
         As of March 2016, 1,394,336 users on Kiva have distributed a whopping  $827,356,850 in loans. These 1,394,336 donors have donated to 1,928,760 borrowers making the average loan size about $411.26. According to the 2014 KIVA Annual Report, over eighty percent of all users donate their first loans, get reimbursed, and then donate their funds back into another person’s business or academic career.
         Kiva has a vast majority of entrepreneurs seeking loans to help kickstart their careers, and all it takes is twenty-five dollars to help someone boost their lifelong dream. Kiva helps men, women, students, agricultural needs, educational fees, health plans, single parents, refugees, artistic businesses, water and sanitation services, citizens caught in war stricken countries, and even those who are working to make their surroundings more hospitable and efficient to their surrounding neighbors. Kiva recently created a new section titled Green in their categories folder. Green being someone who is trying to collect money not just for them but for their whole community. An example of this would be someone who is trying to help reduce the amount of pollution, produce solar energy, or even help promote recycling.
         I found a man by the name of Arthur who is requesting seven-hundred dollars to help him purchase some cattle for fattening. Arthur is a thirty-four year old man who applied for a loan of 2,500,000 shillings ($700) to buy more cows for fattening. Arthur started up his business after finding out that there was a high demand for cattle in his area. He has been in this business for four years now and it has been constantly growing and he expects it to grow even further. However, he lacks capital to invest in this business for cattle fattening and he is requesting loans from others to help kickstart his business. Arthur lives in Lyantonde, Uganda and he is requesting this money because there is a high demand for cows where he lives and he seems to think that he can make some cash off of this business.
         I also found a woman named Esther who is seeking four hundred dollars to help her purchase a deep freezer so she has more room to freeze more products so she can buy in bulk now. Esther lives in Katete, Zambia, and this is her story. Esther is a twenty-three year old entrepreneur based out of Katete in the eastern province of Zambia. She is married and has three children. Esther has a restaurant and bar which have been running for over five years now. Her business has since been growing steadily. Esther's restaurant has become a popular place to buy food. With her growing client base, Esther has found herself not having enough storage for all of the products she has to sell. Esther is now looking for a loan to enable her to purchase a deep freezer so that she can buy her fresh products in bulk and have storage for them. Rent-To-Own is keen on helping rural entrepreneurs like Esther to develop their businesses. Rent-To-Own will deliver the deep freezer to Esther’s restaurant and will train her on how to properly use and maintain it.


Attached below is a copy of the KIVA Annual Report, or the statistical analysis of all of the information collected throughout 2014 on Kiva’s organization.

https://www.kiva.org/about/finances/annualreport/2014

Comments

Post a Comment

Popular posts from this blog

            A Message to Garcia is a story that shows that you should just do your job when asked without making an excuse. Elbert Hubbard is basically saying that when you are asked to complete a certain task, don't backtalk or give sass, just do it. I think that he is right that you should do something when you are asked. I disagree with him when he says that he wants to "kick them with a boot" though. I think that you should just encourage them and get them motivated to do their job. If they fail to obey your orders then fire them. When they gather their things to leave, just tell them, "good luck getting a job when you refuse to work".             I think that you should be like Rowan. Rowan had to sneak behind enemy lines in Cuba to complete a risky job, to deliver a letter to the general. He didn't refuse, give up, or even give an excuse. He simply accepted the mission and went to work. Now a man that obeys an order to go behind enemy lines and risk h
Read more
Test Grade Finalized As of today, I officially got my first A on a human geo test. I know whoever is reading this is probably like wow it took long enough and yes, it did. I finally got an A on one of his tests instead of getting a thirty percent or a forty. I actually think that my highest was a sixty-nine and now this is my highest. I was actually really glad too because it raised my grade up and now I have all B-ees and two A-s I know that isn't good but I actually have really high B-ees. I am working really hard because I have to raise my gpa. Anyway, I got a ninety-two, not a high A, but an A. Basically we just went over the test during class and that will help for our midterm review and eventually the midterm. 
Read more
It appears that I have forgotten to write my blog Friday or Saturday. Now I have no excuse and Socrates is probably shocked. Friday we talked about two maps and how they were different and which one was correct and which was incorrect. Then we watched a little film where people were trying to sell maps to people in the White House. It was all fake of course, then we continued to talk about the two maps. Class was mainly about the maps, except for the part in which the girls complained that it was too hot. The Bel Air versus John Carroll game was really fun too. The only thing was I didn't know if I wanted to be at the top of the bleachers or the bottom. If you look at it, if you sit at the top and the structure collapses you have the longest drop. But if you are at the bottom and somebody falls it is human dominoes and you get squished into a pancake. I decided to stand somewhere in the middle and I told my friends if this goes down like dominoes then jump and we will see what happ
Read more