We are expanding our commitment to Kiva!
This month Pure Community is increasing the pool of funds we lend through the microfinance platform Kiva.
Kiva is an international non-profit organisation with a mission to connect people through lending to alleviate poverty. Their platform facilitates microfunding, which allows anyone to provide small cash loans to low-income entrepreneurs and students in over 80 countries across the globe. Lenders can fund loans entirely themselves or pool their funds with other likeminded people in order to provide larger loans.
Generally, the recipients of Kiva loans don’t have access to the more traditional means of lending such as bank-funded loans and thus stand to benefit significantly from the generosity of others. Part of what makes Kiva unique is that unlike many other forms of goodwill it is structured in such a way that those who give can often expect to be repaid over time. This means that through Kiva you can give and give again with a single contribution!
To provide a snapshot of the ways in which Kiva loans can help, here are the stories of two people we are currently lending to:
Samson, a father of three, operates a retail business in Kitale, Kenya where the average annual individual income is $1,800 USD. He sought a loan of $150 to help expand his rurally-based business which is built around the purchase and distribution of milk from local farmers. Not only does the growth of Samson’s business have a direct positive effect on himself and his family, but it also stimulates the local economy.
Asma of Lahore, Pakistan applied for a loan on behalf of herself, her husband and their children. Prior to the funding Asma’s husband was labouring for a small firm for daily wages that barely covered their household expenses. Asma sought a loan of $275 to allow her husband to gain autonomy in his employment and start a distribution business for local produce, buying corn from local farmers and supplying it to retailers. Similarly, to Samson, the positive effects made possible by Kiva loans such as this extend from an individual level, to the local community and beyond.
To date, Kiva has facilitated the lending of over $72 million in Kenya, $26 million in Pakistan and over $1 billion worldwide. Improving the lives of others comprises the core of Kiva’s mission as they celebrate and support people looking to create a better future for themselves, their families and their communities.
We’re committed to continuously growing the amount we lend through Kiva and strongly encourage everyone to get involved. The power to directly and positively contribute to the lives of others has never been so easy.