Connecting people through lending to alleviate poverty
Each year, Tocci selects an organization to partner with for our annual gift. This year, Tocci gave the gift of Kiva Cards.
Kiva is a non-profit with a mission to connect people through lending to alleviate poverty. Kiva envisions a world where all people – even in the most remote areas of the globe – can create opportunity for themselves and others.
Kiva is an opportunity to do something practical, with a personal connection. With Kiva, you can pick the entrepreneur you want to invest in: a shop keeper purchasing inventory for a convenience store, a delivery service buying spare parts to repair their own vehicles, a farmer buying more sheep to build her herd, a village installing a well for clean water to prevent disease. The list goes on—3,000 great ideas backed by sound business plans vetted by trained local Kiva volunteers.
- The results? People create opportunity for themselves—send children to school, repair houses, expand businesses.
- The rate of repayment for these loans? 99%.
- Average loan amount? $400
Kiva mails progress reports to the giver, so you know when a loan is paid back—you can keep your money in motion and select the next recipient. Investing in the life of someone without access to capital may be the best $25 deal ever.
Julie Brown, our Director of Client Development, told us about her Kiva experience.
“I have financed Yubica in Peru, helping her buy alpaca and sheep’s wool for her textile business, Daub in Indonesia, helping him buy hardwood beams for furniture making, Yin in Cambodia to purchase materials for his house construction , and Fidelia in Peru to buy supplies for farming, growing and selling maize to make her living.”
- Andy Reinach from Alexandria Real Estate Equities plans to involve his two children in choosing the Kiva card recipients, saying “it will be both fun and educational” for them.
- Ron Giaier from The Connell Company chose an entrepreneur in Jordan, remembering our son had taught English as a second language there.
- “Cool Concept” says Abe Naparstek from Forest City.
Check it out at www.kiva.org/lend