Card Set Information

2013-12-18 08:50:54

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  1. Millions of people around the world could help themselves if they just had ….for starting or expanding their small business. Microcredit are... This Helps them to

    access to money; loans that are given to entrepreneurs too poor to qualify for traditional bank loans; establish creditworthiness and financial self-sufficiency.

  2. is Based on …originated by Muhammad Yunus. With Kiva, you can be …You can act as a banker and provide the funds to …, or….that they then lend to …

    micro lending experiment; micro-lender; microfinance institutions, field partners; entrepreneurs

  3. Why is Kiva so successful ? -from Internet Lender’s perspective

    •  Transparent (“I know where my money is going”)
    •  Sustainable (“If repaid, I will re-lend to someone else”)
    •  Affordable (“I only need $25 to change someone’s life”)
    •  Unique (“I love microfinance and I want to participate”)

  4. Why is Kiva so successful ? –from Microfinance Institution’s perspective

    •  No liability: Client loss borne by Internet Lender
    •  No interest on the debt capital
    •  Flexible repayment terms
    •  Exhibit your work to an international audience

  5. How Kiva applies “Web 2.0” principles?
    1. Peering: People lend to other people; Bypass regular channel like the traditional financial institutions

    2. Create an easy, fun User Experience

    • Easy: quick, affordable, simple human story impact

    • Fun: rich user generated content: impact this week, Randomized “1 minute of fame “ for Lender,Real time unedited progress updates from around the world…

    3. Transparency

    • Description of the loan, Description of the business and what the loan will be used for, Size of the loan and status, Summary of the business and loan, including when it is expected to be paid back, Information on the microfinance institution which is managing the loan on the ground;

    • from “My Portfolio”, the loans made to different entrepreneurs can be seen

    • Data inaccuracy and defaults are made explicit

    4. Crowdsource: train MFIs to gather progress updates and verify data accuracy; Translator;

    5. Community Effect: 10 active volunteers for every paid staff member

    6. Mashup with map: shows you all of the other people around the world who are contributing to this loan