Kiva (organization)

Kiva Microfunds (commonly known by its domain name, Kiva.org) is a 501(c)(3) non-profit organization[2] that allows people to lend money via the Internet to low-income entrepreneurs and students in over 80 countries. Kiva's mission is "to connect people through lending to alleviate poverty."[3]

Since 2005, Kiva has crowd-funded more than a million loans, totaling over $1 billion,[4] with a repayment rate of between 98 and 99 percent.[5] As of November 2013, Kiva was raising about $1 million every three days.[3] Over a million lenders worldwide use the Kiva platform.[6]

Kiva relies on a network of field partners to administer the loans on the ground.[7] These field partners can be microfinance institutions, social businesses, schools or non-profit organizations.[8] Kiva includes personal stories of each person who needs a loan because they want their lenders to connect with their entrepreneurs on a human level.[9]

Kiva itself does not collect any interest on the loans it facilitates and Kiva lenders do not make interest on loans. Kiva is supported by grants, loans, and donations from its users, corporations, and national institutions.[10] Kiva is headquartered in San Francisco, California.

Kiva Microfunds
(also known as Kiva.org)
Kiva.org logo 2016
FoundedOctober 2005
71-0992446
FocusEconomic development
Location
Area served
World-wide
MethodMicrocredit
Key people
Revenue (2015)
$19,847,885[1]
Expenses (2015)$15,915,830
Endowment$27,389,839
Staff (2015)
117
Volunteers (2015)
450
Websitekiva.org

History

Kiva worldwide map
Early Kiva Field Partners (September 2006)

Kiva was founded in October 2005 by Matt Flannery and Jessica Jackley.[9] The couple's initial interest in microfinance was inspired by a 2003 lecture given by Grameen Bank's Muhammad Yunus at Stanford Business School. Jessica Jackley, worked at the school and invited Matt Flannery to attend the presentation; this was the first time Flannery had heard of microfinance, but it served as a "call to action" for Jackley. Soon after, Jackley began working as a consultant for the nonprofit Village Enterprise, which worked to help start small businesses in East Africa. While visiting Jackley in Africa, Flannery and Jackley spent time interviewing entrepreneurs about the problems they faced in starting ventures and found the lack of access to start-up capital was a common theme. After returning from Africa, they began developing their plan for a microfinance project that would grow into Kiva, which means "unity" in Swahili.[11][12]

In April 2005, Kiva's first seven loans were funded, totaling $3,500, and the original entrepreneurs were subsequently deemed the "Dream Team."[13] By September 2005, the entrepreneurs repaid the entirety of their original loans, and the founders realized they had developed a sustainable microcredit concept. After the success of Kiva's initial stage, Flannery and Jackley founded Kiva as a non-profit. In 2006, notable entrepreneurs and businessmen joined Kiva's staff, including Premal Shah from PayPal and Reid Hoffman CEO and founder of Linkedin. Shortly after its first anniversary in October 2006, Kiva reached $1 million in facilitated loans and acquired its twentieth field partner. To the present day, Kiva has continued to grow and expand its field partners while acquiring support from the media and the public.

Lending process

Kiva allows microfinance institutions, social businesses, schools and non-profit organizations around the world, called "Field Partners", to post profiles of qualified local entrepreneurs on its website. Lenders browse and choose an entrepreneur they wish to fund. The lenders transfer their funds to Kiva through PayPal, which waives its transaction fee in these cases.[14] It is possible to pay by credit card through PayPal's website, even without a PayPal account, but a PayPal account is needed to withdraw funds.[15]

After receiving a user's money, Kiva aggregates loan capital from individual lenders and transfers it to the appropriate Field Partners, who then disburse the loan to the entrepreneur chosen by the lender. Even though Kiva itself does not charge interest on the loans, the Field Partners may charge relatively high interest rates.[16] Interest is typically higher on loans from microfinance institutions in developing countries than interest rates on larger loans in developed countries because of the administrative costs of overseeing many tiny loans, and the increased risk.[17] As the entrepreneurs repay their loans with interest, the Field Partners remit funds back to Kiva. As the loan is repaid, the Kiva lenders can withdraw their principal or re-lend it to another entrepreneur.

Finances

As of March 15, 2016, Kiva has distributed $827,356,850 in loans from 1,394,336 lenders to 1,928,760 borrowers. A total of 1,036,558 loans have been funded through Kiva. The average loan size is $411.26, and the average Kiva user has made 10.17 loans. Kiva's current repayment rate for all its partners is 97.1%.[18] According to Alexa: The Web Information Company, Kiva's website ranks in the top 15,000 of all websites worldwide and ranks in the top 5,000 for the United States.[19]

For the fiscal year of 2012, Kiva made $15,632,786 in total revenue and had $12,482,528 in total expenses, leaving $3,150,258 to invest. The organization's net assets in 2012 totaled $16,248,638.[20] Kiva itself does not charge interest rates on its loans; they supply capital to microfinancing institutions for free. These microfinancing institutions then lend out money with high interest compared to bank finance in mature markets, averaging a portfolio yield of over 30%.[21] The organization's main sources of funding are grants, financial backing, and discounted services from many major national corporations and institutions. Chevron Corporation, Visa Inc., and Skoll Foundation awarded Kiva a two-year $1 million grant, $1.5 million grant, and $1 million grant respectively. Kiva also won a $1 million grant in Sam's Club's "Giving Made Simple" campaign and $500,000 in American Express's "Take Part" competition. Additionally, Omidyar Network awarded Kiva a $5 million grant over 5 years to help Kiva expand its field partners and support due diligence.[10]

Management

In 2015, the non-profit employed seventeen persons with salaries more than $100,000. The average salary at Kiva is $80,768. President Premil Shah had total compensation of $314,917 in 2015.[1]

Areas of work and loan use

Female-owned businesses

As of October 2017, 81% of Kiva's loans have been made to women.[22] Kiva emphasizes supporting women because women can gain the most from microcredit. Patriarchy and a strict division of labor still dominate the societies of many developing countries, and women often suffer the most from poverty because scarce resources are often allocated to a family's males, rather than its females.[23]

In the non-fiction book Half the Sky, Nicholas D. Kristof and Sheryl WuDunn highlight Kiva's work along with that of some field partner organizations, such as the Kashf Foundation in Pakistan. With microloans, women gain spending power and spend less on instant gratification vices like alcohol, and drugs. With extra income, they are able to educate their children, renovate their residences, or buy modern technologies and medicines. Along with economic power, a woman with a microloan often gains more independence and respect from her husband. Kristof and WuDunn note that microfinance can be a risky path out of poverty. "[Paying back the loan with interest] is fine when the money is pumped into a profitable new business, but if the money isn't invested soundly, then the borrowers become trapped in mounting debts." Nonetheless, the authors endorse Kiva and similar microfinance efforts, writing "microfinance has done more to bolster the status of women, and to protect them from abuse, than any laws could accomplish."[24]

Green loans

In 2011, Kiva added a new category of loans to help borrowers move to cleaner and safer forms of energy, green agriculture, transport and recycling.[25] Green Kiva loans help fund solar panels, organic fertilizers, high-efficiency stoves, drip irrigation systems, and biofuels. As of December 2013, Kiva lenders had crowd-funded 4,600 green loans.[26]

Support for higher education

Getting access to university and graduate level education is extremely difficult for poor students in developing countries. Outside of the United States and a few other wealthy industrialized countries, student loans are rare, leaving families without substantial savings with few options.[27] In low income countries, only 7% of the population received university or graduate level education, as of 2007.[28]

Higher education has been shown to play a significant role in developing a country, and UNESCO reports that "higher education makes a significant contribution to reduction in absolute as well as relative poverty,"[29]

In 2010, Kiva began a Student Microloans program that allowed lenders to help support students seeking access to higher education.[30] Student loans are funded with the same crowd-funding approach, and typically students have 1–3 years to pay back their loans.

In 2014, the education offerings on Kiva expanded greatly when the organization began a deeper partnership with Vittana.[31] Vittana works on the ground in countries in Asia, Africa and Latin America, developing loan alternatives for low-income students. Through the partnership, all loans sourced by Vittana now appear on Kiva for funding.

Medical Loans

Some Kiva field partners, such as Alivio Capital, specialize in funding medical loans.[32] Others may fund medical loans as well as other loans.[33][34] A development scholar in Ghana has suggested that microfinance medical loans can be an effective way to close the gap in medical care access in developing countries.[35]

Support for refugees

In July 2017, Kiva launched a World Refugee Fund, a $250,000 matching fund to provide support to refugees and host communities in countries including Lebanon, Jordan, and Turkey. As refugees repay the loans, they build a track record in their new locations. The fund is to be followed by a rotating fund of up to $9M in loan capital.[4]

Other Kiva programs

Kiva Zip

Kiva launched Kiva Zip, a 0% interest peer-to-peer lending pilot program, in late 2011 as part of efforts to "cut lending costs through technology."[36] Zip operates in the U.S. and Kenya, and lenders can contribute as little as $5 to a loan. The loans posted to Kiva Zip are often from borrowers who have been rejected for loans by traditional banking institutions, but on Kiva Zip they don't need to be able to produce high credit scores or collateral.[36] Zip uses a system of trustees, who vouch for the borrowers.[37] Zip trustees can be local non-profits, service organizations, businesses, faith organizations or community leaders.[37]

The average loan size on Zip is $5,000 and borrowers and lenders can communicate on the platform, which is not the case on Kiva.[38] Each borrower profile on Zip includes a private area for conversation and messages between borrowers and lenders, which sometimes evolves into lenders becoming customers or even brand ambassadors that encourage other members of the community to support a business.[36] Zip borrowers average about two years to repay loans.[36]

As of June 2018, Kiva Zip seems not to be active as a separate program anymore, but just part of Kiva.[39]

Kiva Labs

Google awarded a $3 million Global Impact Award to Kiva in 2013 to fund the Kiva Labs project, which looks for ways to increase the flexibility and impact of microfinance.[40] Labs initiatives include lowering interest rates, providing more flexible repayment terms that accommodate issues like seasonal profits in farming, and offering longer-term loans for investments like education.[40] Labs also focuses on providing access to clean energy technology and using mobile technology in ways that will bridge the knowledge gap. At the time of the labs launch, Kiva lenders had crowdfunded "132,000 agricultural loans; 4,600 green loans, and 670 mobile tech loans."[41]

Kiva City

Kiva City provides local business owners and entrepreneurs in U.S. cities with the opportunity to crowdsource loans.[42] It was launched by Kiva and former US President Bill Clinton at the Clinton Global Initiative America conference in Chicago in 2011.[43] Kiva City locations include: Detroit, New Orleans, Los Angeles, Washington D.C., Newark, Richmond, Little Rock, Pittsburgh, Philadelphia, Milwaukee, Louisville, San Francisco, New York City, and Oakland.

In less than a year, the Kiva City programs in Richmond, Virginia, helped fund more than $100,000 in loans to local businesses.[44]

Issues

Interest rates

As of November 2018, a total of 1,530,180 loans had been funded on Kiva.[45] The following table shows these loans sorted according to interest rate.

Number of loans Interest Rate
150,615 0%
5,570 0.5-10%
152,926 10.5-20%
387,677 20.5-30%
334,205 30.5-40%
330,354 40.5-50%
116,154 50.5-60%
51,026 60.5% +
1,653 No interest rate listed
1,530,180 Total

Some people, including microfinance pioneer Muhammad Yunus, argue that the interest rates of many microcredit institutions are unreasonably high. In his latest book he argues that microfinance institutions that charge more than 15% above their long-term operating costs should face penalties.[46]

According to its web site, Kiva quotes interest rates as the "self reported average rate charged by the Field Partner to the entrepreneur."[47] Kiva does not publish the interest rates charged for the individual loans funded through its website. However, it does publish the average "Portfolio Yield" of each of its field partners, as a way for prospective lenders to estimate the cost to the borrower of the loans they consider funding. The "Portfolio Yield" measures the average income earned from the field partner's outstanding loan portfolio.[48] Some observers have pointed out that the "Portfolio Yield" measure is unreliable, and does not directly reflect the actual price that borrowers are paying for the loans.[49]

Kiva defends the interest rates of its field partners, however, saying its field partners provide much better rates than local alternatives, but must charge what they do because "the costs of making a micro-loan in the developing world are higher versus larger loans in the West."[47] Kiva itself does not keep any of the interest collected, but operates instead exclusively on donations.[50]

For example, in 2009 micro-loans from Kiva partners in Guatemala averaged 23.16% for the equivalent of US$430 lent on average, comparable to the commercial BanRural rate of 24.5% for a loan of US$635.[51] (For reference, the inflation rate for Guatemala typically varies between 5 and 10% and was just 0.62% in 2009).[52]

The high interest rates inherent in the Kiva model have inspired several other online microlending services, which aim to reduce the cost to borrowers. One example, United Prosperity, uses lender funds as security to leverage matching loan amounts from local banks, at lower interest rates than would otherwise be available to the borrowers.[53] United Prosperity works with field partners in India and Sri Lanka.[54]

Kiva itself launched a more direct peer-to-peer microlending platform, called Kiva Zip, in 2012. Kiva Zip transfers funds directly to borrowers without outsourcing disbursements and repayment collection to field partners. Instead, Kiva Zip partners with local institutions called Trustees, who vet loan applicants, provide mentorship, and may post profiles and updates on their behalf. Currently, Kiva Zip borrowers do not pay any interest or fees. Lenders are protected from currency risk but do not earn interest. Kiva Zip is considered an experimental platform, and offers loans in the United States and in Kenya. In the future, it hopes to expand to other locations.[55] Kiva Zip's repayment rate is 89.4%.[56]

Interest Rates by Field Partner

As of November 2018, there are a total of 332 field partners listed on the Kiva website and their status is as follows: 173 Active, 41 Inactive, 14 Paused, and 104 Experimental. In addition, 178 former field partners are listed as Closed.[57]

The following table shows the "Portfolio Yield"of a sampling of field partners. "Portfolio Yield" figures are calculated by dividing all interest and fees paid by borrowers to the field partner by the average loan portfolio of the field partner that given year. The figure provides a more accurate insight into the costs of borrowing because it includes fees associated with borrowing.

Pre-disbursement of funds

When Kiva began, borrowers had to wait until their loans were funded on the Kiva website to receive the funds. Since then, the system has changed, so that loans are disbursed to borrowers before their stories are posted to Kiva's website.[58][59] Disbursing loans sooner has a positive impact on the borrowers, who no longer need to wait weeks to receive their funding and can thus take advantage of time-sensitive business opportunities. This is disclosed on Kiva's site; each loan proposal states whether funds were pre-disbursed. Thus, lenders' loan funds are likely to go to borrowers other than those chosen by the lenders.[58] However, since the pay-back behaviour of the specific borrower chosen by the lender does influence whether or not the lender gets their funds back (except when an MFI has chosen to cover for borrower defaults), there is at least some connection between the lender and the specific borrower. Whether lenders' preferences are used for lender preference trend analysis by any field partners or Kiva is not stated. Kiva's response has been to keep pre-disbursing but be clearer about the process.[60]

Field partner institutional weakness

Kiva works with more than 240 field partners.[61] In an article for the journal innovations, Matt Flannery identified six microfinance institutions (MFIs) that he saw as involved in "serious fraud".[62] These are the six that he identifies:

  • Women's Economic Empowerment Consort (WEEC) -- When Jedidah Waigwa, the woman who started this MFI, died, her husband took over and WEEC became disorganised. Money that was intended for entrepreneurs was used to pay WEEC debts.[63]
  • Supporting Enterprises for Economic Development (SEED) -- In this instance Kiva pursued a legal case, however, it had not made much progress as of April 2008.[64]
  • Women's Initiative to Eradicate Poverty (WITEP) -- Flannery was personally involved in this investigation as discussed in the article that he wrote for innovations. Moses Onyango, a former friend of Matt and Jessica Flannery, was involved in creating a shell MFI to funnel money to himself.[62][65]
  • Rural Agency for Development (RAFODE) -- Flannery writes that this MFI embezzled funds away from borrowers who "never saw a penny."[62][66]
  • Afrique Emergence & Investissements (AE&I) -- A Kiva fellow was requested by AE&I to help get operations back to normal after severe computer problems. She notified the central office of irregularities and after an investigation, Kiva closed the partnership. (AE&I paid back all outstanding loans to Kiva). However, the MFI has published a rebuttal and other partners of AE&I including AfriCap Microfinance Investment Company, and OIKOCREDIT stood by it.[67][68] AE&I has now been picked up by another online microfinance platform called MyC4.[69][70]
  • MIFEX—Flannery writes that the loan sizes were inflated by 30 percent, and the excess was used to pay operational costs.[62][71]

Although cases of fraud do exist, Kiva made the following statement on the partner page for SEED:

Please realise that our audit of SEED uncovered a true exception to the norm; the vast majority of our Field Partners administer your loans with the highest integrity. Kiva will continue to audit Field Partners to monitor the integrity of your loan and to make our website a model for transparency in international development.[64]

Full-repayment frequency uncertainty

Whether defaults are extremely low has been questioned on the ground that a field partner may pay Kiva for loans defaulted to the field partner in order to maintain the field partner's good credit with Kiva.[58] Whether interest rates collected by field partners are enough to pay for significant defaults depends on local economic conditions for each field partner.

Controversial loans

In 2008, Kiva featured the borrowing profile of a Peruvian woman asking for a loan to buy equipment for her cockfighting business.[72][73] This sparked debate among the Kiva Lending Community about the principles of the organization, and many complained that the organization was promoting cruelty to animals. Matt Flannery responded to the debate by providing an overview of the legal issues surrounding the debate, and took a more relativist stance. Flannery wrote on Socialedge.org — a blog site designed to connect entrepreneurs for social benefit —

I think that allowing our partner to decide which loans to post without much interference is a good thing. We can be paternalistic when we start imposing our moral framework upon societies half a world away. Cockfighting in Peru is legal and part of a rich cultural tradition. It may not be humane or palatable from a Western perspective, but that misses the point. Kiva, the organization, should not be making those decisions. Our lenders should be the ones voting with their dollars.[72]

This position has caused some lenders to pull their funds (often moving them to other microfinance sites such as United Prosperity, Zidisha.org, Wokai, Energy in Common, etc). Others who wanted to continue to lend through Kiva created "Kivans Against Cockfighting Loans" in May 2009, and, as of June 8, 2012, it has lent $15,625 to borrowers pursuing projects that do not involve the harming of animals.[74]

Controversy regarding Strathmore University and Opus Dei

In Spring 2013, one of Kiva's field partners, Strathmore University, posted many large loans to cover full tuitions for students from low-income regions in Kenya who could not otherwise afford higher education. Kiva also established a field office on the Strathmore campus. Shortly after, many lenders raised concerns because Strathmore University is a corporate undertaking of Opus Dei.[75] This spawned a debate in the Kiva forums, leading to an open letter from Kiva's CEO Matt Flannery addressing the issue.[76]

Promotions and marketing strategies

In March 2012, Reid Hoffman, LinkedIn's co-founder, lent Kiva $1 million. Kiva then allowed 40,000 people to lend $25 for "free." Lenders still choose a borrower, but the borrower will pay back Hoffman instead of the lender who chose them. Kiva hopes that the "free" users will lend to more of their projects, and thus increase their overall user base.[77]

In his 2007 book Giving: How Each of Us Can Change the World, Bill Clinton covers Kiva.org and the work the organization is currently doing and has done in the past.

External reviews

The following independent entities have reviewed Kiva.

  • In 2013, foundation Google.org conducted extensive due diligence on Kiva and awarded it a $3 million Global Impact Award for the creation of Kiva Labs.[78]
  • In 2012, charity evaluator Charity Navigator gave Kiva its highest 4-star rating two years running.[79]
  • In 2012, charity evaluator Philanthropedia awarded Kiva its Top Non-Profit Award based on topic area expert opinions.[80]
  • In 2011, The Economist honored Kiva with its Innovation Award.[81]
  • In 2010, foundation Omidyar Network conducted extensive due diligence and awarded Kiva a $5 million grant to scale its impact.[82]
  • In 2010, Kiva was selected as one of Oprah's Ultimate Favorite Things.[83]
  • In 2009, charity evaluator GiveWell published a generic critique of giving marketplaces including Kiva and Global Giving.[84] and specific critiques of Kiva.[85]
  • In 2008, TIME magazine named Kiva a Top 50 website.[86]
  • In 2007, Skoll Foundation conducted extensive due diligence and awarded Kiva a $1 million grant as part of its recognition of the world's best social enterprises.[87]

See also

References

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  82. ^ "ON | Omidyar Network Awards $5 Million Grant to Kiva to Spur Growth of Microfinance in Underserved Markets". Omidyar.com. August 12, 2010. Retrieved January 5, 2014.
  83. ^ "Kiva Gift Card, Courtesy of Groupon". Oprah.com. November 19, 2010. Retrieved January 5, 2014.
  84. ^ "Kiva, GlobalGiving, and other "giving marketplaces" - GiveWell". GiveWell.
  85. ^ "Kiva | The GiveWell Blog". Blog.givewell.org. Retrieved January 5, 2014.
  86. ^ iPad iPhone Android TIME TV Populist The Page (June 17, 2008). "Kiva - 50 Best Websites 2008 - TIME". Content.time.com. Retrieved January 5, 2014.
  87. ^ "Kiva « Skoll Foundation". Skollfoundation.org. Retrieved January 5, 2014.

External links

Wikimedia Kiva community logo
Logo for the Wikipedian team on Kiva.org
Crowdfunding

Crowdfunding is the practice of funding a project or venture by raising small amounts of money from a large number of people, typically via the Internet. Crowdfunding is a form of crowdsourcing and alternative finance. In 2015, over US$34 billion was raised worldwide by crowdfunding.Although similar concepts can also be executed through mail-order subscriptions, benefit events, and other methods, the term crowdfunding refers to Internet-mediated registries. This modern crowdfunding model is generally based on three types of actors: the project initiator who proposes the idea or project to be funded, individuals or groups who support the idea, and a moderating organization (the "platform") that brings the parties together to launch the idea.Crowdfunding has been used to fund a wide range of for-profit, entrepreneurial ventures such as artistic and creative projects, medical expenses, travel, and community-oriented social entrepreneurship projects. It has also been criticised for funding quackery, especially costly and fraudulent cancer treatments.

Energy in Common

Energy in Common (EIC) was a not-for-profit organization issuing microloans specifically and only for renewable energy technologies. EIC was founded by Hugh Whalan and Scott Tudman in 2009 (website launch 2010). It has the very ambitious goal of delivering renewable energy to 15 million people in the next five years, while fighting poverty by empowering developing world entrepreneurs through microloans. EIC represents one of the most promising contenders in the growing green microfinance sector. As of 2012, it has ceased operations due to a lack of funds after their overseas partners defaulted on their loan obligations.

EIC operates very similarly to Kiva. In the case of Kiva, lenders provide funds with zero return expected to developing world entrepreneurs to invest in their businesses (typical loans are for things like seeds for farming). EIC does this as well, but specifically focuses on purchasing renewable energy systems like solar photovoltaic panels.

What makes EIC particularly unique in the microfinance non-profit sector is that they have created a model to measure the greenhouse gas emission reductions that are created by their loans. The EIC model helps provide funding to developing world entrepreneurs for energy solutions and also helps to channel additional funding into mitigating climate change.

Gender inequality

Gender inequality acknowledges that men and women are not equal and that gender affects an individual's lived experience. These differences arise from distinctions in biology, psychology, and cultural norms. Some of these distinctions are empirically grounded while others appear to be socially constructed. Studies show the different lived experience of genders across many domains including education, life expectancy, personality, interests, family life, careers, and political affiliations. Gender inequality is experienced differently across cultures.

Innovations (journal)

Innovations is a peer-reviewed academic journal that focuses on entrepreneurial solutions to global challenges. It is published quarterly by the MIT Press.

Johnston Heights Secondary School

Johnston Heights Secondary is a public high school in Surrey, British Columbia and is part of School District 36 Surrey.

The newest building was built in 1989. Johnston Heights' exterior highly resembles that of its neighbouring high school, North Surrey Secondary School. The Canadian government chose to highlight the school for its program to improve intercultural understanding. Yearly, Johnston Heights' REACH Council has been working to support Multicultural Week, Health Week, World Causes Week and annual holiday celebrations are also held. In 2007-2008, Johnston Heights initially set out to raise $2000.00 for the KIVA organization (kiva.org) and eventually raised over $2,500.00 to provide micro loans to people in the third-world for their businesses.

Johnston Heights has also been involved in sports, attending yearly track meets and involving students in lunch time sports events held inside the Eagle Dome (the school gym). Sports at Johnston Heights include Cross Country, Volleyball, Basketball, Soccer, Badminton, Track and Field, Golf, Hockey, Tennis, Cricket, football, and Girls Rugby. Many students have taken leadership roles to promote healthy lifestyle and daily physical activity.

Many clubs at Johnston Heights include their Chess Club, Reach for the Top (quiz game show), Debate Team, KIVA Club, REACH Council, Student Representative Team, Dance Team, Math Club, Theatre Company, Model United Nations, and more.

Academically, Johnston Heights has promoted school Math Contests, School Speech Meets and has sent students to Provincial Debate Meets in Victoria, Prince George and Vancouver. The school is also in involved in science fairs, musical and theatrical productions and home to Canadian Artist, Math, Music, Science contest winners. The Johnston Heights choir as also been involved with the Whistler Choir festival and placed as a top choir. Johnston Heights offers French, Spanish and language challenge courses for senior students. Programs like ESL (English as a Second Language) and B.A.S.E.S incorporated into the school. The school has a strong academic range, with more than 50% of the school's students on the honour roll. At every end of the year the schools host an awards ceremony called the Gala Awards to celebrate the success of many students and presenting them with awards ranging from math awards (Gauss, Pascal, Fermat etc.) to top academic students per grade. The school has also been a key school in Surrey for hosting the Integrated Studies program in the school from students who would like to take Social Studies and English as one course for the year which is beneficial to letting students have a better chance to explore their learning. The school also offers courses such as Peer-Tutoring, Jewelry Making, Info-Tech, Law, Math Honours, Home Economics: Textiles, Theatre Stage Production and the very popular Home Economics: Foods.

It is notable that Johnston Heights is an IB MYP school. The school was certified on the 28th of March, 2017.

KOPN

KOPN (89.5 FM) is a non-profit community radio station in Columbia, Missouri, United States, which from its start was modeled on the progressive format of KPFA in Berkley, California. The station relies heavily on volunteers for programming and also carries programming from National Public Radio, Public Radio International, and Pacifica radio network.The station went on the air in 1973, becoming the eighth open-access, listener-supported station in the U.S. and the first to serve an audience of less than 100,000 people.

List of microcredit lending websites

This is an incomplete list of microcredit lending social websites:

Kiva (organization)

United Prosperity (organisation)

Wokai

Energy in Common

World Vision

Vittana

MicroPlace

Zidisha

Seven Bar Foundation

The Seven Bar Foundation is a social enterprise that uses cause marketing initiatives and the luxury lingerie industry to consistently fuel microfinance and benefit underprivileged women around the world. It is a 501(c)(3) non-profit organization based out of New York, New York that raises funds for microfinance institutions (MFIs) to enable women to spearhead their own businesses and rise out of poverty.

Strathmore University

Strathmore University is a chartered university based in Nairobi, Kenya. Strathmore College was started in 1961, as the first multi-racial, multi-religious Advanced-level Sixth Form College offering science and arts subjects, by a group of professionals who formed a charitable educational trust (now the Strathmore Educational Trust). Saint Josemaría Escrivá, founder of Opus Dei, inspired and encouraged them to start the College. It is a catholic university.

Strathmore has a particularly successful accounting program: 60% of the CPA finalists in Kenya coming from it in the past ten years, dating back from 2007. The current Vice-Chancellor of the University is Professor John Odhiambo.

WNTH

WNTH is the FM radio station of New Trier High School. The station broadcasts to most parts of New Trier Township, Illinois at 88.1 FM.

Wokai

Wokai was an organization that allowed people to contribute directly to microfinance institutions in China, which in turn lend the money to entrepreneurs in rural China. It was a 501(c)(3) non-profit organization based in Oakland, California, with core operations in Beijing, supported by individual donors, corporate sponsors, fundraising events and grants. As of May 2012, Wokai concluded operations due to funding roadblocks and the need for a new CEO.

YiNongDai

YND (YiNongDai, Chinese: 宜农贷) is the one of the largest online P2P (Peer-to-peer) lending platforms in China. It allows people to lend directly to women in rural area, especially the Northwest China. YND is a social enterprise based in Beijing, China. It is supported mainly by individual lenders from the Internet.

Field Partner[57] Region Portfolio Yield % Status Correct on
IMPRO Bolivia 20 Active Nov. 10, 2018
Fundación Pro Mujer Bolivia 32 Active Nov. 10, 2018
KREDIT, a partner of World Relief Cambodia 23 Active Nov. 10, 2018
Hattha Kaksekar Limited (HKL), a partner of Save the Children Cambodia, Thailand 20 Active Nov. 10, 2018
MAXIMA Microfinance Cambodia 22 Active Nov. 10, 2018
Grounded and Holistic Approach for People's Empowerment (GHAPE) Cameroon 20 Active Nov. 10, 2018
Esperanza International Dominican Republic, a partner of HOPE International Dominican Republic 39 Active Nov. 10, 2018
Fundación ESPOIR Ecuador 29 Active Nov. 10, 2018
The Foundation for Assistance for Small Businesses (FAPE) Guatemala 49 Active Nov. 10, 2018
Prisma Honduras Honduras 43 Active Nov. 10, 2018
Koperasi Mitra Usaha Kecil (MUK) Indonesia 23 Active Nov. 10, 2018
VisionFund Kenya Kenya 36 Active Nov. 10, 2018
Al Majmoua Lebanese Association for Development Lebanon 31 Active Nov. 10, 2018
Vitas - Lebanon Lebanon 32 Active Nov. 10, 2018
Patan Business and Professional Women (BPW Patan) Nepal 19 Active Nov. 10, 2018
ADIM (Asociación Alternativa Para el Desarrollo Integral de las Mujeres) Nicaragua 57 Active Nov. 10, 2018
AFODENIC Nicaragua 21 Active Nov. 10, 2018
Palestine for Credit & Development (FATEN) Palestine, Jordan 15 Active Nov. 10, 2018
Fundación Paraguaya Paraguay 40 Active Nov. 12, 2018
Asociación Arariwa Peru 36 Active Nov. 12, 2018
EDAPROSPO Peru 41 Active Nov. 12, 2018
ASKI Philippines 21 Active Nov. 12, 2018
Community Economic Ventures, Inc. (CEVI), a partner of VisionFund International Philippines 60 Active Nov. 12, 2018
Gata Daku Multi-purpose Cooperative (GDMPC) Philippines 25 Active Nov. 12, 2018
Paglaum Multi-Purpose Cooperative (PMPC) Philippines 28 Active Nov. 12, 2018
VisionFund Rwanda Rwanda 41 Active Nov. 12, 2018
South Pacific Business Development (SPBD) Samoa 45 Active Nov. 12, 2018
Caurie Microfinance, a partner of Catholic Relief Services Senegal 20 Active Nov. 12, 2018
UIMCEC, a partner of ChildFund International Senegal 19 Active Nov. 12, 2018
Tujijenge Tanzania Ltd Tanzania 66 Active Nov. 12, 2018
IMON International Tajikistan 31 Active Nov. 12, 2018
Humo Tajikistan 40 Active Nov. 12, 2018
BRAC Uganda Uganda 60 Active Nov. 12, 2018
Thanh Hoa Microfinance Institution Vietnam 19 Active Nov. 12, 2018
CIDRE Bolivia 19 Active Nov. 12, 2018
Kashf Foundation Pakistan 39% PY Active Nov. 8, 2018
Credo Georgia 30 Active Nov. 8, 2018
Fondesurco Peru 32 Active Nov. 8, 2018
One Acre Fund Kenya, Tanzania 18% APR Active Nov. 8, 2018
Organizacion de Desarrollo Empresarial Femenino (ODEF) Honduras 34 Active Nov. 8, 2018
CrediCampo El Salvador 29 Active Nov. 8, 2018
VisionFund Ecuador Ecuador 23 Active Nov. 8, 2018
National Microfinance Bank Jordan 37 Active Nov. 8, 2018
MiCredito Nicaragua 38 Active Nov. 8, 2018
Bai Tushum Bank Kyrgyzstan 21 Active Nov. 8, 2018
SEF International Armenia 26 Active Nov. 8, 2018
Cooperativa San Jose Ecuador 15 Active Nov. 8, 2018
Negros Women for Tomorrow Foundation (NWTF) Philippines 46 Active Nov. 8, 2018
Edpyme Alternativa Peru 37 Active Nov. 8, 2018
Cooperativa de Ahorro y Crédito Mujeres Unidas (CACMU) Ecuador 17 Active Nov. 8, 2018
FUNDAPEC Dominican Republic 5% APR Active Nov. 8, 2018
Kaebauk Investimentu no Finansas Timor-Leste 28 Active Nov. 8, 2018
ID Ghana Ghana 48 Active Nov. 8, 2018
Strathmore University Kenya 4% APR Active Nov. 8, 2018
Interactuar Colombia 33 Active Nov. 8, 2018
Juhudil Kilimo Kenya 41 Active Nov. 8, 2018
Fundación Mario Santo Domingo (FMSD) Colombia 40 Active Nov. 8, 2018
Banque Populaire du Rwanda (BPR) Rwanda N/A Active Nov. 8, 2018
Cooperativa de Ahorro y Crédito Norandino Peru 31% APR Active Nov. 8, 2018
Réseau de Micro-institutions de Croissance de Revenus (RMCR) Mali 26 Active Nov. 8, 2018
Artisan Alliance at The Aspen Institute United States, Nigeria, Nepal, Mali, Kyrgyzstan, Ghana, Mexico, India, Cambodia, Kenya, Uganda 0% Active Nov. 8, 2018
Ibdaa Microfinance Lebanon 40 Active Nov. 8, 2018
Kenya ECLOF Kenya 40 Active Nov. 8, 2018
Camfed Zimbabwe Zimbabwe 0% APR Active Nov. 8, 2018
Babban Gana Farmers Organization Nigeria 18% APR Active Nov. 8, 2018
UGAFODE Microfinance Uganda 51 Active Nov. 8, 2018
Arvand Tajikistan 32 Active Nov. 8, 2018
Zoona Zambia, Malawi N/A Active Nov. 8, 2018
PADECOMSM El Salvador 33 Active Nov. 8, 2018
HOFOKAM Uganda 47 Active Nov. 8, 2018
ADICLA Guatemala 51 Active Nov. 12, 2018
Hluvuku-Adsema Mozambique 50 Active Nov. 12, 2018
Thrive Microfinance Zimbabwe 69% APR Active Nov. 12, 2018
Microhub Financial Services (Pvt) Ltd country 74% APR Active Nov. 12, 2018
Advans Ghana country 78% APR Active Nov. 12, 2018
Americas
Asia
Europe
Oceania
Crowdfunding platforms
Africa & Middle East
Americas
Asia & Pacific
Europe
Defunct

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