Growth and change are vital worldwide, from governments finally loosening sanctions on laughter emissions to the insecure caterpillar's advancement to chief executive flutterby. Foster Earth's collective prosperity with today's deal: For $15, you get a $25 Kiva Credit, good toward funding microlending projects on Kiva.org. [All proceeds remaining from the card's discount will be funded by Groupon and supporting sponsors, up to $500,000].
With an eye toward alleviating poverty, Kiva empowers people to distribute microloans to highly motivated, low-income entrepreneurs in the developing world and beyond to cultivate a universal community of humans connected through lending. Kiva harbors a deep network of trusted microfinance institutions, or field partners, and the streamlined loaning process allows generous funders to connect with eager businesspersons to enact transparent, accountable partnerships based on a mutual dignity and respect usually found only in figure-skate-offs. Once equipped with your Kiva Credit, you're free to spin Kiva's e-globe and explore the life stories and entrepreneurial endeavors of individuals around the world. Choose a deserving impresario, and your $25 floater will drift assuredly through a field partner institution's oft-dusted hoverducts before arriving in the hands of your chosen entrepreneur to aid in their prosperous pursuits. Entrepreneurs will repay their loans over time, with Kiva returning the repayments to the lenders, who are free to then re-lend the funds, donate the funds to Kiva to assist with operational costs, or withdraw your portion of the funds via PayPal and stuff them back into the dog's bed. Recent Kiva-assisted entrepreneurs have included a single mother in Mongolia looking to purchase new equipment for her retail-food business and a metal-shop owner in El Salvador seeking to obtain materials and tools for his business.
Since its inception six years ago, Kiva's community has combined to provide more than $177 million in microloans to more than 465,000 industrious individuals on five continents. The active, dedicated community of users and the rigorous review process of each field partner buoys the personal bonds and the palpable sense of trust in an ocean of effective entrepreneurialism. To learn more about how Kiva works, click here.
Kiva started small. In April 2005, founders Matt Flannery and Jessica Jackley funded seven Kiva loans, totaling $3,500, to entrepreneurs across the globe. By September, all seven borrowers had repaid in full. With this success in hand, Flannery and Jackley expanded, transforming Kiva into a full-fledged nonprofit, operating under the belief that a relatively small amount of money can make a big difference in alleviating poverty. And also that there were people who wanted to lend money to underserved people they'd never met. All it took was establishing a link.
Now more than one million lenders have funded more than $600 million worth of loans to people in even the most remote areas of 80 countries to build businesses, fund home construction, and pay for school tuition. When lenders fund $25 microloans on the website, field partners distribute that money to highly motivated, low-income borrowers in developing areas. Once their efforts come to fruition, the borrowers repay the capital—at an average repayment rate of more than 98%—giving lenders the opportunity to relend to a different project.