1.7 billion people globally lack access to banking services. Women make up 55% of the world’s unbanked population, therefore have no access to banking or insurance products, making it difficult to start or grow a business.
Kiva, is a non-profit organisation founded in 2005, who provide the platform for a vast network of microfinanciers (mainly individuals like you and I), to supply loans to some of the poorest entrepreneurs across the world who, because they are women, do not have access to traditional finance.
Since its inception, Kiva have facilitated $1.5 billion in loans across 76 countries, with a 96% repayment rate.
The concept of Kiva is simple: Borrowers apply for loans in increments of $25, which go through an diligent approval process. The loans, and the projects they are required for, are then posted in detail on the Kiva platform.
Individuals and business, such as the team at Value Match, find projects they want to support, and together with many other lenders , contribute as much as they like towards the loans required Once the loan is fully funded by everyone, Kiva send the loan to the business who can then purchase what they need and commence repayments to their Kiva account. Kiva return the money to the original lender enabling them to fund more projects.
As of March 2023, Value Match has provided 294 loans to women-owned businesses across 49 countries including Kenya (41.84%), Philippines (4.08%), Vietnam (4.08%), Uganda (3.74%) totalling $23,475.
This year International Women’s Day we ask you to share this initiative and post far and wide to build awareness for these women who have a simple desire “To be successful” but they have barriers in their way.
Last updated: March 2023