Visa Employee Matching
In October of 2010, Kiva and Visa announced a partnership to raise awareness in the U.S. of the availability of microlending as a source of capital and help bring the benefits of microfinance to areas where small businesses are facing the toughest challenges.. Although Kiva expanded to the U.S. in 2009, there are significant challenges to scaling microfinance across the country. Visa approached Kiva to see if it was possible for Kiva to help accelerate the expansion of microfinance in the U.S. In response, Kiva worked with Visa to create “Kiva City”, a new program that extends small business access to microloans in U.S. cities with the greatest need. Kiva City aims to spur job growth and economic recovery by connecting Kiva’s global network of 592,000 individual lenders with the owners of small businesses throughout the country.
Knight Foundation Matching
Knight Foundation seeks to encourage the economic revitalization of Detroit. When they learned of Kiva’s plans to launch “Kiva Detroit” in partnership with Michigan Corps, they recognized an opportunity to reach their goals. By their matching loan funds for Detroit borrowers dollar for dollar, the foundation could empower Detroiters and supporters of Detroit to lend as little $25 to local, small businesses.
Omidyar Growth Challenge
Omidyar approached Kiva with a challenge. With its help, Kiva would scale to $1 billion in loans over 5 years and contribute to the development of a strong microfinance sector through investment in social performance audits, field partner expansion, due diligence, and investments in technology. The commitment, which marks the largest grant in Kiva’s history, reflects Omidyar Network’s focus on bringing microfinance to underserved markets as well as catalyzing social impact through technology.
Moody's Field Specialist Program
As the microfinance market continues to grow at an accelerating rate, so does the need for globally comparable credit ratings that assess the credit worthiness of the microfinance institutions (MFIs). The ability to map microfinance ratings to expected loss or probability of default would prove extremely useful to potential investors.
Moreover, Moody's and Kiva both recognize the opportunity Kiva presents; not only does Kiva partner with MFIs of the highest standards, but engages with local microfinance profesionals who understand the local market, can work with current MFIs and identify new ones.