Kiva

In Rosa’s small town in northern Ecuador, avocados are sometimes called “alligator pears” or “butter fruit”. And although most of the world’s avocados are grown in Mexico, Ecuador is catching up in supplying this in-demand produce to the United States. Rosa, a 64-year-old grandmother, buys avocados in bulk to sell wholesale to restaurants and at street markets. And more recently, she planted her own avocado tree to help her business. She’s accustomed to hard work, having raised multiple children on her own as a single mother. And now, while her adult children do help her out, she must continue to generate her own income to pay for her medical expenses. During the pandemic, her health deteriorated and she barely left the house. And subsequently, her business suffered. Even still, she knew she had to figure out a way to survive, “...I said to myself, 'I have to leave to work so that I can afford the medicine—the pills and tablets that I have to take daily.'” But as a one-woman operation, she needed resources. With a loan from Kiva, Rosa was able to purchase fresh inventory and restart her sales cycle, something she is grateful for. “I felt happy when I found out they were going to give me a loan. I found the interest rate was quite low, and for this, I am thankful, and I am thankful that they trusted me.” Kiva has reached over 4 million women worldwide through 1.6 billion dollars in loans. In fact, 4 out of 5 Kiva loans go to women. Learn more about how Kiva reaches women like Rosa: https://bit.ly/3VNXhvr #genderequality #entrepreneurship #global #women #microfinance

In the U.S., not everyone has equal access to financial services. 1 in 10 U.S. adults are unbanked and 1 in 4 are underbanked. This is especially true for systemically marginalized groups. Let’s break it down: Q: What is unbanked and underbanked? A: If someone is unbanked or underbanked, they don’t have access or equal access to financial services like bank accounts, credit, or capital. Q: Who are systemically marginalized groups? A: Systemically marginalized groups are groups or communities that experience discrimination and exclusion due to systems of oppression. These are usually patterns of behavior and policies that perpetuate economic and political disadvantages. In the U.S., these groups can often include members of the LGBTQ+ community, refugees and immigrants, women and gender nonconforming individuals, Black and African Americans, the Latinx community, Indigenous people, and People of Color. Q: Why does financial inclusion matter? A: Everyone deserves a chance to provide for themselves and fulfill their dreams. Marginalized entrepreneurs face financial discrimination and have unequal access to financial services they need to thrive. Kiva expands financial access for those who are most excluded. Learn more about Kiva U.S. here: https://bit.ly/4cCERVy #finance #access #inclusion #diversity #equality #microfinance

According to the United Nations High Commissioner for Refugees (UNHCR), an average of 21.5 million people per year since 2008 have been displaced globally from climate-related hazards like floods, storms, wildfires, and extreme temperatures. That means that there are more than 320 million climate refugees who have left their homes already. And the issue does not appear to be slowing down. Learn more about climate refugees: https://bit.ly/3L3x1s1

🌟 We love seeing schools incorporate Kiva into their learning programs 🌟 Like these inspiring 6th graders, who showcased their creativity and innovation — all while supporting Kiva borrowers. Thank you, Seattle Academy, for fostering entrepreneurship and making a positive impact in the world. 🙌 #Kiva #Entrepreneurship #YouthImpact #GlobalChange

Worldwide, 740 million women don’t have access to traditional financial services like bank accounts and credit. This can make it difficult for women to start and grow their own business. But lending to women is a win-win. Research shows that women are more likely to invest their earnings and in ways that have a long term impact on their families and communities. Laura is a Colombian immigrant living in Ecuador who was displaced from her home during the pandemic. See how she started her own business using a Kiva loan: https://bit.ly/3zbUlkE

💻 💚 How does technology fuel collective social impact and what's next in the world of philanthropic-related tech and AI? Vishal Ghotge, #CEO of Kiva, shares his insights from a recent conversation with Steve Kaufer, CEO of Give Freely, in the latest edition of the Rooted in Impact blog series. #techforgood #socialimpact. #ceoinsights

There are many misconceptions surrounding refugees. This #WorldRefugeeDay, we invite you to challenge yours. Being a refugee is an experience, not an identity. Displaced people are small business owners, setting up restaurants, convenience stores, and other services for their new communities. They’re aspiring journalists, poets, artists, and embroiderers. They’re parents and caretakers. They’re human. But before they can start to set down roots, they need resources. Unfortunately, many traditional financial services often say “no” to lending to refugees. The Kiva community says “yes”. Do you believe that refugees deserve the resources they need to rebuild after leaving their lives behind? Help us transform the narrative. Every share of this post has the power to help us change outdated perceptions about refugees.

Being a refugee is an experience, not an identity. Displaced people are just that: people. And at Kiva, we believe in financial inclusion, for every person. That’s why we’ve facilitated loans to refugees since 2016. When other financial institutions said “no”, Kiva lenders said “yes”, changing the lives of people like Xiomara. After migrating to Ecuador from Venezuela, Xiomara faced multiple tragedies. Pancreatic cancer took her daughter’s life — COVID-19 took her husband’s. Despite losing her loved ones, Xiomara refused to return to the hardships of Venezuela. Now, Xiomara is the owner of Xiomi Centro de Estética Integral, where she provides facial and body treatments. You can help us change the narrative for more refugees like Xiomara. Every share has the power to change minds. Will you share this post to take action and help transform outdated perceptions about refugees?

Who do you think has a higher likelihood of repaying a loan: a small business owner, or a refugee forced to leave everything behind? . . . . Turns out, their repayment rates are exactly the same. Refugees are human beings, not “risky investments”. Yet biases and false beliefs that "refugees can't repay loans" stand in the way of displaced people rebuilding their lives. These beliefs turn into rejections from financial institutions when trying to access money. Money that turns into housing, education, and opportunities to build a sustainable livelihood. This #WorldRefugeeDay (and every day), we’re changing the narrative around the creditworthiness of refugees. Since 2016, refugees have repaid their Kiva loans at the same rate as non-refugee borrowers. It’s time to challenge outdated perceptions of refugees. Like, share, and comment with your thoughts — you have the power to change minds.

Even though research shows that women are more likely to invest their earnings in ways that have a long-term impact on their families and communities, an overwhelming number still lack the economic agency to do so. 80% of the loans funded on Kiva support women, and independent research like the annual Microfinance Index by 60 Decibels helps us to better measure the outcomes that women experience as a result of taking microloans. In this edition of the Invest In Women Newsletter, we share what women microfinance borrowers think about how loans have affected their lives.