Changing the lives of millions
Helping those at the bottom of the socioeconomic pyramid is important to fulfilling our aim of building a better working world. Entrepreneurs at this level are keeping themselves out of poverty, feeding their families and supporting their local communities.
That is why we support Kiva, the world's first and largest person-to-person micro-lending organization. Its mission is to connect people through lending money to alleviate poverty.
Through the Kiva website, individuals lend as little as US$25 to entrepreneurs from developing and emerging economies. The entrepreneurs, 83% of whom are women, have a repayment rate of 99%. Kiva has raised over US$408m in loans for more than 970,000 borrowers in 67 countries.
To support Kiva, we made a commitment to provide in-kind support valued at US$1m. It is changing the lives of millions.
- In Guatemala, 33-year-old artisan Florinda Agustina has been making aprons for 10 years. She has a shop with three machines and two employees. Customer demand has grown, but she has been unable to build capital. By borrowing US$725 through Kiva to buy raw materials, she increased her sales, and she has repaid her Kiva loan.
- Silole Ene, a 41-year-old wheat farmer in Kenya, supports six members of her family. With a US$625 Kiva loan, she was able to buy wheat seeds and fertilizer. A hardworking woman determined to achieve her goal of becoming a large-scale farmer, she has repaid 100% of her loan.
Read more about what we're doing in Empowering our people, strengthening our communities - 100 examples from around the world.