What is Kiva?

Kiva was established in 2005 as the world's first micro-lending website. It operates through crowdfunding - like GoFundMe! The difference is, Kiva allows everyday people to contribute small loans to fund businesses all around the world.

Kiva allows lenders to see the real impact of their investment on small businesses. For borrowers, Kiva is the first step on the capital ladder, and will open doors for new and/or underserved businesses that may be denied access to traditional loans.

How does it work?

1. Submit a loan application to Kiva

The process will only take 30 minutes - 1 hour! In addition to a few financial questions, you will also need to provide a high quality photo, a personal story, and business story. 

2. Kiva review

Kiva reviewers will take 1-3 weeks to determine a borrower's eligibility and loan size.

3. Fundraising

For up to 45 days, you will work to crowdsource the funds for your loan. This takes place over two periods:

I. Private Fundraising: For the first fifteen days, borrowers invite friends and family (5-40 people) to support them with loans as small as $25.

II. Public Fundraising: Then, borrowers will have an additional 30 days to fundraise from Kiva's global network of lenders.

4. Repayment

Once the fundraising goal is complete, there will be a 1-6 month period before repayments must be made. Then, the loan will be repaid monthly via paypal over a term of 12-36 months. 

Kiva Resources in Durham

Carolina Community Impact has all the resources you need to become a successful borrower, lender, or trustee through Kiva. Visit CCI's website to get connected!