SYS-CON MEDIA Authors: Zakia Bouachraoui, Liz McMillan, Carmen Gonzalez, Roger Strukhoff, David Linthicum

News Feed Item Reaches $100 Million in Microloans Around the Globe

World's First Microlending Website Continues to Fight Poverty and Empower Entrepreneurs, Thanks to $100 Million in Loans From the Kiva Community

SAN FRANCISCO, CA -- (Marketwire) -- 11/02/09 -- October marks two considerable milestones for -- the world's first micro-lending website for the working poor. This month, celebrates its fourth anniversary, in addition to reaching over $100 million in loans.

Since launching in October 2005, has provided loans to more than 239,000 entrepreneurs in over 50 countries. Upwards of 573,000 lenders have given through, lending over $100 million at the end of October 2009 -- an increase of nearly $60 million since the same time last year.

"This momentous time in Kiva's short history is proof that people see the value of social investments, even in difficult economic times," said Premal Shah, President of "Four years ago, we introduced the technology that has made online microlending possible. As we look to the next five years, Kiva, alongside our community, will continue to dream big as we strive to make Kiva the world's hub for alleviating poverty."

In the past 12 months, Kiva has realized several notable accomplishments, including:

--  Kiva API: In January 2009, introduced the Kiva API to the
    public so that developers can build tools and applications with
    data. New applications that were made possible by the Kiva API include Kiva
    Alerts, an application that lets you know when a loan of your preference is
    available for funding and Kiva World, a live map of global Kiva loans in
    all stages.
--  United States Pilot: In June 2009, launched a pilot expansion
    in the United States, allowing individuals anywhere to make small loans to
    U.S. entrepreneurs through This expansion has greatly contributed
    to the number of lenders and the volume of new loans coming through Users lent over $224,000 to U.S. borrowers in June alone, making
    June's biggest month by volume up to that point.
--  Auto Lending: In September 2009, introduced a way for
    individuals to lend automatically to specific types of loans, without
    having to search Many members of the Kiva community had requested
    the flexibility to manually choose loans when time permits, but also to
    automatically choose loans when on vacation or short on time.
--  Global Expansion: This year, entrepreneurs from four countries have
    been added to for the first time, including Armenia, Kyrgyzstan,
    Liberia and Mongolia. also added new field partners in Bolivia,
    Ecuador, Gaza, Kenya, the Philippines, Vietnam and the West Bank.
--  Accolades: This year, was named one of the 50 Best Websites
    of 2009 by TIME magazine. was also recognized by TiE50 as one of
    the hottest start ups of 2009, Matt Flannery and Premal Shah were
    recognized on the Fortune 40 Under 40 list, Premal Shah was recognized by
    The World Economic Forum as a 2009 Young Global Leader, and Medinge Group
    listed as one of the year's Brands With A Conscience.

To keep the momentum and continue to drive innovation in microfinance, has developed a Five Year Growth Plan. Over the next five years, the organization hopes to raise one billion dollars in loans over the internet, reach two million entrepreneurs around the world, and realize's own self-sufficiency in the process.

About is the world's first person-to-person micro-lending website, empowering individuals to lend to an entrepreneur across the globe. Founded in 2005,'s mission is to connect people, through lending, to alleviate poverty. Over 585,000 people have loaned more than $100 million to 249,000 entrepreneurs in 49 countries. Currently, loans made through have a 98% repayment rate. is headquartered in San Francisco.

Stacey Stevens
(415) 318-4223
Email Contact

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
Moroccanoil®, the global leader in oil-infused beauty, is thrilled to announce the NEW Moroccanoil Color Depositing Masks, a collection of dual-benefit hair masks that deposit pure pigments while providing the treatment benefits of a deep conditioning mask. The collection consists of seven curated shades for commitment-free, beautifully-colored hair that looks and feels healthy.
The textured-hair category is inarguably the hottest in the haircare space today. This has been driven by the proliferation of founder brands started by curly and coily consumers and savvy consumers who increasingly want products specifically for their texture type. This trend is underscored by the latest insights from NaturallyCurly's 2018 TextureTrends report, released today. According to the 2018 TextureTrends Report, more than 80 percent of women with curly and coily hair say they purcha...
The textured-hair category is inarguably the hottest in the haircare space today. This has been driven by the proliferation of founder brands started by curly and coily consumers and savvy consumers who increasingly want products specifically for their texture type. This trend is underscored by the latest insights from NaturallyCurly's 2018 TextureTrends report, released today. According to the 2018 TextureTrends Report, more than 80 percent of women with curly and coily hair say they purcha...
We all love the many benefits of natural plant oils, used as a deap treatment before shampooing, at home or at the beach, but is there an all-in-one solution for everyday intensive nutrition and modern styling?I am passionate about the benefits of natural extracts with tried-and-tested results, which I have used to develop my own brand (lemon for its acid ph, wheat germ for its fortifying action…). I wanted a product which combined caring and styling effects, and which could be used after shampo...
The precious oil is extracted from the seeds of prickly pear cactus plant. After taking out the seeds from the fruits, they are adequately dried and then cold pressed to obtain the oil. Indeed, the prickly seed oil is quite expensive. Well, that is understandable when you consider the fact that the seeds are really tiny and each seed contain only about 5% of oil in it at most, plus the seeds are usually handpicked from the fruits. This means it will take tons of these seeds to produce just one b...
Steaz, the nation's top-selling organic and fair trade green-tea-based beverage company, announces its 2017 "Mind. Body. Soul." tour, which will bring authentic experiences inspired by the brand's signature Mind. Body. Soul. tagline to life across the country. The tour will inform, educate, inspire and entertain through events, digital activations and partner-curated experiences developed to support the three pillars of complete health and wellness.
The platform combines the strengths of Singtel's extensive, intelligent network capabilities with Microsoft's cloud expertise to create a unique solution that sets new standards for IoT applications," said Mr Diomedes Kastanis, Head of IoT at Singtel. "Our solution provides speed, transparency and flexibility, paving the way for a more pervasive use of IoT to accelerate enterprises' digitalisation efforts. AI-powered intelligent connectivity over Microsoft Azure will be the fastest connected pat...
There are many examples of disruption in consumer space – Uber disrupting the cab industry, Airbnb disrupting the hospitality industry and so on; but have you wondered who is disrupting support and operations? AISERA helps make businesses and customers successful by offering consumer-like user experience for support and operations. We have built the world’s first AI-driven IT / HR / Cloud / Customer Support and Operations solution.
ScaleMP is presenting at CloudEXPO 2019, held June 24-26 in Santa Clara, and we’d love to see you there. At the conference, we’ll demonstrate how ScaleMP is solving one of the most vexing challenges for cloud — memory cost and limit of scale — and how our innovative vSMP MemoryONE solution provides affordable larger server memory for the private and public cloud. Please visit us at Booth No. 519 to connect with our experts and learn more about vSMP MemoryONE and how it is already serving some of...
Darktrace is the world's leading AI company for cyber security. Created by mathematicians from the University of Cambridge, Darktrace's Enterprise Immune System is the first non-consumer application of machine learning to work at scale, across all network types, from physical, virtualized, and cloud, through to IoT and industrial control systems. Installed as a self-configuring cyber defense platform, Darktrace continuously learns what is ‘normal' for all devices and users, updating its understa...
Codete accelerates their clients growth through technological expertise and experience. Codite team works with organizations to meet the challenges that digitalization presents. Their clients include digital start-ups as well as established enterprises in the IT industry. To stay competitive in a highly innovative IT industry, strong R&D departments and bold spin-off initiatives is a must. Codete Data Science and Software Architects teams help corporate clients to stay up to date with the mod...
As you know, enterprise IT conversation over the past year have often centered upon the open-source Kubernetes container orchestration system. In fact, Kubernetes has emerged as the key technology -- and even primary platform -- of cloud migrations for a wide variety of organizations. Kubernetes is critical to forward-looking enterprises that continue to push their IT infrastructures toward maximum functionality, scalability, and flexibility. As they do so, IT professionals are also embr...
Platform9, the leader in SaaS-managed hybrid cloud, has announced it will present five sessions at four upcoming industry conferences in June: BCS in London, DevOpsCon in Berlin, HPE Discover and Cloud Computing Expo 2019.
At CloudEXPO Silicon Valley, June 24-26, 2019, Digital Transformation (DX) is a major focus with expanded DevOpsSUMMIT and FinTechEXPO programs within the DXWorldEXPO agenda. Successful transformation requires a laser focus on being data-driven and on using all the tools available that enable transformation if they plan to survive over the long term. A total of 88% of Fortune 500 companies from a generation ago are now out of business. Only 12% still survive. Similar percentages are found throug...
When you're operating multiple services in production, building out forensics tools such as monitoring and observability becomes essential. Unfortunately, it is a real challenge balancing priorities between building new features and tools to help pinpoint root causes. Linkerd provides many of the tools you need to tame the chaos of operating microservices in a cloud native world. Because Linkerd is a transparent proxy that runs alongside your application, there are no code changes required. I...