Guest Blogger: Jud Bowman, CEO, Pocketgear
Nourish International hosted its annual Summer Institute banquet at UNC last night, and the keynote speaker was Kiva.org co-founder Jessica Jackley. I personally didn't know as much about Kiva.org before hearing Jessica speak, and wanted to share some of the metrics of this pretty incredible venture that is only 3-years old:
- Kiva has originated over $85M in microfinance loans to date to entrepreneurs in over 50 countries (mostly 3rd world)
- Average loan size is $412, with a term of 9-12 months
- Over 200K people have received a loan so far from Kiva
- The average repayment rate is 98.6% (this is perhaps the most shocking statistic to me)
- 540K people have loaned money to others through Kiva, average loan size per lender is $160
- Last week, Kiva loaned 2,372 entrepreneurs around the world $806,225
- That works out to 1 loan every 25 seconds, and is a run-rate of $42M annualized in microfinance loans to the 3rd world
A huge thanks to Nourish International for bringing such an incredible social entrepreneur to Chapel Hill! For more on Nourish International, check out www.nourishinternational.organd for more on Kiva.org, check out www.kiva.org/about/facts (the cumulative loan volume graph is pretty staggering).
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