Kiva Reaches $200-Million in Loans

April 17, 2011 | Read Time: 1 minute

Kiva—which uses the Internet to match entrepreneurs in developing countries with people who want to lend them money to build their businesses—this month announced it has helped arrange $200-million in loans.

The group, which was founded in 2005, reached the milestone a little more than a year after it reached the $100-million mark.

“In the past year, we have successfully leveraged the Kiva platform to reach new microloan markets, like loans for students, and in the future will look to new categories that contribute to the alleviation of global poverty like green and water loans,” said Premal Shah, Kiva’s president, in a written statement.

To get there: Go to http://www.kiva.org.

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NICOLE WALLACE

Features Editor

Nicole Wallace is features editor of the Chronicle of Philanthropy. She has written about innovation in the nonprofit world, charities’ use of data to improve their work and to boost fundraising, advanced technologies for social good, and hybrid efforts at the intersection of the nonprofit and for-profit sectors, such as social enterprise and impact investing.Nicole spearheaded the Chronicle’s coverage of Hurricane Katrina recovery efforts on the Gulf Coast and reported from India on the role of philanthropy in rebuilding after the South Asian tsunami. She started at the Chronicle in 1996 as an editorial assistant compiling The Nonprofit Handbook.Before joining the Chronicle, Nicole worked at the Association of Farmworker Opportunity Programs and served in the inaugural class of the AmeriCorps National Civilian Community Corps.A native of Columbia, Pa., she holds a bachelor’s degree in foreign service from Georgetown University.