Microloan - a small loan given to individuals who might not have access to typical banking services, usually to start or expand small, self-sufficient businesses
•As of November 26, 2013, Kiva has distributed $498,939,550 in loans from 1,015,823 lenders to 1,177,248 borrowers
•A total of 637,003 loans have been funded through Kiva
• The average loan size is $410.89
•The average Kiva user has made 10.06 loans
Kiva's current repayment rate for all its partners is 99.01% !
- micro entrepreneurs who are trying to start (or kick start!) a small business
- villagers needing to fund a clinic, hospital, or other health care facility (malaria treatment, drugs, hypos, refrigerators, sanitation)
- teachers trying to run a school (buying anything from books and pencils to desks and chairs)
- students wanting to further their education (college tuition)
- high interest rates sometimes as high as 23%
- The cost of providing banking services to those living in poverty is high. Being the company that provides tiny loans that can be expensive.
- MALARIA- It’s a mosquito-borne infectious disease
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•humans and animals can be infected through the bite of a female mosquito•no vaccine exists•it kills around 665,000 people a year, many of them children in sub-Saharan Africa•mosquito nets can be effective
- philanthropy is the generous donation of money to good causes, and Bill and Melinda Gates are the second greatest philanthropists in history ($28 billion, ⅓ of their wealth)
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