Kiva Loans Empowers Less Unfortunate People Around the World
Meghan Young — February 10, 2015 — Social Good
References: kiva.org
Kiva loans money to people around the world who need help with their business, to attend school, switch to clean energy and more. It is a microfinance company that allows people to donate as little as $25 to lend a helping hand as far as the other side of the world. Through Kiva loans, dreams come true and lives are made easier, especially for those living in third world countries.
What makes Kiva loans a particularly amazing model is that the money given out is not charity. People are encouraged to pay it back in order to share their success with those who helped them out. Those same loaners are then encouraged to reallocate the returned money to another cause.
What makes Kiva loans a particularly amazing model is that the money given out is not charity. People are encouraged to pay it back in order to share their success with those who helped them out. Those same loaners are then encouraged to reallocate the returned money to another cause.
Trend Themes
1. Charitable Microfinance - Opportunity for disruptive innovation in creating new charitable microfinance models that empower less fortunate individuals globally.
2. Crowdfunding for Social Impact - Opportunity for disruptive innovation in developing crowdfunding platforms specifically designed for social impact projects like Kiva loans.
3. Peer-to-peer Lending - Opportunity for disruptive innovation in leveraging peer-to-peer lending platforms to support global microfinancing initiatives.
Industry Implications
1. Fintech - Opportunity for disruptive innovation within the fintech industry to create new platforms and services that facilitate charitable microfinance.
2. Social Entrepreneurship - Opportunity for disruptive innovation within the social entrepreneurship industry to develop innovative business models that combine profit with social impact, similar to Kiva loans.
3. International Development - Opportunity for disruptive innovation in the international development sector to reimagine and enhance the effectiveness of providing financial support to individuals in third world countries.
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