Kiva Viral Video on YouTube
Online business ideas have always sparked much media and attention. This is no different for Kiva.
A video from the microfinance organization Kiva, which was shown at the International CES Intel keynote speech in 2009, has become a viral video on YouTube. Kiva is famous for being the world’s first person to person microlending website. It enables everyday people to make small loans to entrepreneurs in the developing world. These loans have helped many to work their way out of poverty, thus Kiva’s motto of “Make a Loan, Change a Life” is very appropriate.
The video of Kiva entrepreneurs which was shown at Craig Barrett’s keynote speech was shot by Kiva Fellow Nick Sabin in Sierra Leone. It was featured in the keynote address for Intel to illustrate that company’s partnership with Kiva via the Small Things Challenge. The video footage shows examples of entrepreneurs who are lifting themselves out of poverty with help from Kiva loans.
About Kiva Microfinance
Microfinance is a general term that’s used to describe financial services to low-income individuals or to those who don’t have access to typical banking services.
The idea behind Kiva microfinance is that low-income individuals are capable of lifting themselves out of poverty if given access to financial services. Some studies indicate that microfinance can indeed play a role in the battle against poverty, but it’s widely recognized that it’s not always the appropriate method.
Therefore, it should never be seen as the only tool for ending poverty. Microfinance can help very poor households to meet basic needs and protect against risks. Polly Banks, a Kiva Fellow in Nepal, gives the example of Gun Keshari, who has become a regular borrower of microloans. Over time, with the support of these small, low-interest loans she has seen a dramatic improvement in the living standards of her family.