Search results
Results from the WOW.Com Content Network
Early Kiva field partners (September 2006) Kiva was founded in October 2005 by Matt Flannery and Jessica Jackley. [11] The couple's initial interest in microfinance was inspired by a 2003 lecture given by Grameen Bank's Muhammad Yunus at Stanford Business School.
Building on his college interest in microfinance, Shah took a sabbatical from PayPal in 2004 to prototype a concept of person-to-person microlending in India. [10] [11] Upon his return to Silicon Valley in 2005, Shah joined Matt Flannery and Jessica Jackley in launching Kiva and scaling it into a global organization. [12]
Indeed, the local microfinance organizations that receive zero-interest loan capital from the online microlending platform Kiva charge average interest and fee rates of 35.21%. [44] Rather, the principal reason for the high cost of microcredit loans is the high transaction cost of traditional microfinance operations relative to loan size. [ 45 ]
Help; Learn to edit; Community portal; Recent changes; Upload file; Special pages
Jessica Erin Jackley (born October 29, 1977) [1] is an American entrepreneur who co-founded Kiva and later ProFounder, two organizations that promote development through microloans. Early life [ edit ]
Zidisha is a peer-to-peer microlending service that allows people to lend small amounts of money directly to entrepreneurs in developing countries. [2] It is the first peer-to-peer microlending service to link borrowers and lenders across international borders without a local microfinance institution intermediary. [3]
SMEP partnered with Kiva in 2009 and has seen them been able to extend credit on behalf of other Kiva lenders. [4] On 14 December 2010, SMEP was awarded a deposit taking licence by the Central Bank of Kenya. Making it the third deposit taking microfinance institution (MFI) in Kenya. [1]
In order to overcome the initial investment barrier that many people had when considering microfinance, EIC developed the "Nanoloan" concept. For most microfinance institutions (e.g. Kiva) the minimum loan is $25 and the average time until repayment is about 18 months. This could put a lot of well-intentioned people off of the concept.