There are more than 1.7 billion people unbanked around the world. This inaccessibility to finance hugely restricts potential entrepreneurs in developing countries and. Iit can be even harder being female as often equality is scarce.
Kiva is a non-profit charity and was started in 2005 in San Francisco. They were one of the first organisations to truly leverage the power of the internet. Working globally with a huge network of microfinanciers supplying loans to some of the poorest people in the world who don’t have access to loans.
Since 2005 Kiva have supplied $1.5bn loans in 76 countries and have had a 96% return rate. The concept of Kiva is very simple:
- A borrower applies for a loan ($25)
- Loan goes through the approval process
- The loan is posted on Kiva and Lenders crowdfund the loan
- Borrowers repay the loan
- Lenders use the repaid loan to fund more projects.
Currently Value Match has provided 70 loans in 22 countries, most recently lending in Philippines, Vietnam and Sierra Leone resulting in $4,850 total amount lent. We donate on a monthly basis, follow our progress here.
Here are some stories where Value Match have helped fund.
Esther’s Group’s story
Esther, pictured above, has been a farmer for 18 years, and is now proud to represent her group of 11 farmers in Lugari District. She is 41 years old, married, and has three children.
Esther likes to think of herself as a very reliable person. She has been working alongside One Acre Fund since 2018 and decided to represent her group because she wanted to be more active in her community. She says that being part of the One Acre Fund community has meant that she has had a healthier life due to better nutrition. Esther plans to use the profits from this coming season to send her children to school.
In total, Esther’s Group will receive inputs to cultivate 5.5 acres of land. Given that some members of the group will also be purchasing a solar light, with this loan, the group will also receive a total of two solar lights.
Value Match are very proud as we played a part in funding $175 towards Esther’s causes. We have lent as a team approximately 45 total loans, over $3,000.
Arome Piquante Group’s story
Mrs. Melanie manages the ‘Spicy Aroma’ Group. She started a business of selling second-hand clothing 10 years ago with a start-up fund. She then joined the Hekima program, this has helped her business progressively grow. She now plans to use this new loan to buy second-hand clothing wholesale to strengthen her initial capital.
Her aim is to have all her children to go to school and to feed her family. She would also like to thank Hekima and its partners for the financial support as she has no access to traditional banking.
Value Match supports Kiva and continues to loan on a monthly basis to support women owned businesses with a positive environmental or community impact.