About Kiva

KIVA is a non-profit organization operating in the microfinance sector. By combining microfinance and the internet, Kiva has created a global community connected through lending. In fact, Kiva is the first microcredit website using a peer-to-peer platform for lending. Kiva has used this system to develop a network of lenders and borrowers around the world.

Quick Facts:

• 595,491 Kiva lenders
• $224 million in loans
• 98.79% repayment rate
• Kiva fund: 100% of every dollar lent on Kiva goes directly towards funding loans; Kiva does not take a cut; additionally, they do not charge interest to its field Partners who administer the loans
• Kiva is primarily funded through the support of lenders making optional donations; however they also raise funds through grants, corporate sponsors, and foundations

The MiCrédito/Kiva Relationship

Kiva and MiCrédito work together to bring financing to university students in Nicaragua. Kiva lenders provide financing to MiCrédito interest-free; MiCrédito, in exchange, creates partnerships with local universities to finance student projects. The individual university assumes the collateral for its students who in-turn are able to access financing to fund their projects, learn how to manage their finances, learn how to access markets, and most importantly, they learn how to apply their skills learned in school and gain the experience necessary to run a successful business upon graduation. Successful students who demonstrate responsibility, hard work, and business skills also have the possibility of applying for further funding from MiCrédito upon graduation. 

UCATSE Program

The UCATSE program began in October 2010 at Catholic University of Dry Tropic Farming and Livestock just north of Managua. The university handled the loan for a project focused on cabbage farming, providing $100 each to 12 selected students. The loan term was for 6 months (October 2010 - April 2011) and all the students have successfully repaid! MiCrédito plans to continue this program but must wait until next fall as implementation revolves around the planting and school season. Kiva and MiCrédito believe that this program allows students to take their classroom learning and adapt that into their practice. These students learn how to manage credit responsibly, access markets and and follow their path to becoming small business owners. 

Interested in Getting Involved?

Students who are interested in working with MiCrédito and Kiva should speak to their institutions to find out if the program is active at their school. If there is not currently a relationship, students and institutions who are interested in forming a partnership with MiCrédito and Kiva should contact us to find out more!

“Student loans and applied learning are extremely important and a vital part of education; this would not be possible without the help and support of Kiva!” – Veronica Herrera MiCrédito, CEO

How Does Kiva Work for Lenders?

1. 1. Choose a borrower: all loans on Kiva are deserving of funding; pick the one that speaks the most to you
   2. Give a loan: loan amounts can be as little as $25, or as high as the full loan amount. Checkout is quick and easy, made possible by Paypal.
   3. Get repaid: as the borrower repays the loan, the money becomes available in your account. This is called your Kiva Credit.
   4. Repeat: you can now use it to fund another loan, donate it to Kiva, or withdraw it to spend on something else.