Kiva Introduces a new Nonprofit Fundraising Model with Kiva City

Kiva is an online non-profit fundraising organization that was founded in 2005 based on their unique concept of microfinancing. Since their inception, Kiva have helped countless people around the globe find empowerment by creating entrepreneurial opportunities for themselves through the administration of loans to help establish and/or grow their business.  Over time, they expanded their fundraising service scope to include those seeking  assistance for educational development around the globe. Having facilitated over $229 million in loans in over 59 different countries and with almost over 600,000 Kiva lenders, the Kiva fundraising service program boasts a repayment rate of over 98% and is now bringing their concept of microfinance loans to the U.S with their latest program, Kiva City.

Kiva City logo courtesy of kiva.org

Kiva City was created in response to the recent economic down-turn that has severely impacted many U.S. communities and to grant small American businesses that are in need of capital gain access to microfinance loans (loans under $10,000).  In partnering with Visa, civic leaders, community organizations and financial institutions, Kiva City intends to achieve the promotion of economic growth and job creation with this new program.  The program introduced in the end of June 2011 by former U.S. president Bill Clinton was launched in Detroit Michigan, a city that the Economist Intelligence Unit lists as the top 5 trouble spots for small businesses.

To successfully launch the Kiva City fundraising service program in these troubled communities, three key components need to come together: 1) the public support from elected officials at different levels of government announcing their commitment to reach small businesses that are in financial need and provide them with access to microfinance loans; 2) a community organization that will spearhead the program by enlisting a Business Outreach Team, and 3) creating relationships with small business leaders, networking groups and financial institutions.

It’s the support of community and business leaders that will make the Kiva City program work.  It requires a network of volunteers who understand the power and availability of microfinance loans as well as an Outreach Team in the community that can guide and help small businesses access the financial help that they require.  As the program becomes established in Detroit, Kiva City’s goal is to reach many American cities and towns that have been severely affected by the recession in recent years.  Other cities in which the Kiva City program intends to expand to in the near future include Cleveland, Miami, Pittsburgh, Orlando and Minneapolis.

Miratel Solutions is proud to null to entrepreneurs in 2nd and 3rd world countries across 5 continents.  We encourage everyone to support Kiva’s unique brand of microfinance fundraising services.  Lending just $25 will create an opportunity for, and give independence to, someone in another part of the world which will help them sustain themselves, their family and their community.  A Kiva’s moniker stresses, these are not just loans but “loans that change lives”.

Visit Kiva or Kiva City for more information. You can also read a pdf overview of the program here.

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