Oct 31, 2009 KV Kiva HQ
By Premal Shah
Kiva Lenders surpass $100,000,000!
Around 2pm today (Happy Halloween for those in the U.S.), Kiva hit a major milestone:

$100,000,000
in loans raised


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!

Add new comment

Premal Shah leads Kiva.org, a website that allows you to lend $25 to the working poor. Since 2005, Kiva lenders have financed over 1 million low-income entrepreneurs from 75 countries, with a 98% repayment rate. The site has been named as one of Oprah's Favorite Things and a Top 50 Website by TIME Magazine. Premal’s inspiration for Kiva came in 2004. Working for several years at PayPal, he took 2 months off to volunteer in India. There he worked with low-income women to help them sell handcrafts online. While the project had mixed results, it strengthened his belief that the right combination of technology, business and love can dramatically accelerate opportunity for those most left out. Today with a burgeoning community of 1 million Kiva lenders, this belief becomes more of a reality each day. For his work as a social entrepreneur, Premal was named on FORTUNE magazine’s “Top 40 under 40″ list. Premal is a graduate of Stanford University.

Add Your Comments