Kiva creates new way to fund small business growth
Find a Consultant Become a Consultant

Kiva creates new way to fund small business growth

Kiva creates new way to fund small business growth

By John Jantsch

Kiva in UgandaMark Flannery co-founded with his wife a few years ago and their success has forever altered the way entrepreneurs in the developing world get access to the small amounts of capital that can make a huge impact on their businesses and lives. In doing so they’ve also opened up an entirely new channel of micro lending to businesses and individuals who would like a way to help the smallest of businesses get going.

Matt stopped by the Duct Tape Marketing podcast recently to share the Kiva story.

The incredible thing about this system is that it’s a lending, not gifting, system that allows anyone to lend as little as $25 that might go towards a tiny fish selling business in Mozambique allow allow the owner to buy more product and in doing provide a necessary service to a community.

The burgeoning venture has received incredible press attention from the likes of
(The Oprah Winfrey Show, NBC’s Today Show, and President Clinton’s book “Giving”.

Here’s how it works:

  1. You go to the Kiva site and choose an entrepreneur who has posted and been screened for a need
  2. You make a loan payment for as little as $25 through Paypal or credit card
  3. Receive a journal so you can keep track of how your entrepreneur is doing
  4. Withdraw or reloan the proceeds from your load

The amazing thing about this program which now raises millions of dollars a month for poor entrepreneurs is the load payback is at about 99%.

There a several other volunteer opportunities as well.

Free eBook 
7 Steps to Scale Your Consulting Practice Without Adding Overhead

The Duct Tape Marketing Consultant Network has helped me to grow my business by over 40% in the last 12 months. ~ Michael Quinn - Michael Quinn Agency, Fargo, ND

Social Customer Service Metrics: 3 Case Studies
How has marketing changed thanks to social media? Well, now 90% of customers are influenced by online reviews. Some companies cringe when they hear this: The decision whether to buy can come down to a good or bad Yelp review. And we all know some customers can be finicky, their opinions arbitrary and skewed. But […]
5 Ways to Get The Most Out of Your Social Media Marketing This Year
It’s guest post day here at Duct Tape Marketing, and today’s guest post is from our newest team member – Alex Boyer– Enjoy! You have always been told your business needs a presence on social media sites like Facebook and Twitter, but you have yet to see tangible results. Don’t give up! Here are five […]

Subscribe to the Duct Tape Marketing Podcast

If you know your small business needs marketing, but don’t have the time or resources, look no further. The Duct Tape Marketing podcast covers everything from earning referrals to managing time and being more productive.