From July through December, our “small change” offering on Sunday mornings will go to Kiva. Kiva is an international organization, founded in San Francisco in 2005, that envisions a financially inclusive world where all people hold the power to improve their lives.
The premise is simple: the money is crowdfunded and distributed to those without access to banks or other sources of financial opportunity. The premise is simple but the impact is huge: 1.6 million loans (for a total of $1.3 billion) have been funded in 81 countries, for farming, education, starting small businesses, and many other needs.
Here are some stats:
100% goes to funding loans. Operational costs are covered by optional donations
96.9% repayment rate
81% of borrowers are women
Lenders crowdfund an average of $2.5 million per week
So, bring your coins and small bills each Sunday. The children of Westside will get to choose which borrower from which country will receive the money. If you’d like more information, visit www.kiva.org.