Kiva creates new way to fund small business growth

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 Kiva.org 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

"This training from Duct Tape Marketing has exceeded my expectations and I couldn't be happier" ~ Brooke Patterson, VanderMedia


Google Analytics for Small Businesses
Marketing Podcast with John Jantsch Today’s topic is Google Analytics, one of my favorite items to talk about. It isn’t the sexiest topic, I know. But it’s an important one. Closing the loop on your marketing investment, on your channels, on your customer engagement, those are important. This allows you to focus, to spend less […]
How to Outsource Small Business Work
Marketing Podcast with Nathan Hirsch In this episode of the Duct Tape Marketing Podcast, I interview Nathan Hirsch, co-founder of OutscourceSchool. Nathan started off selling textbooks his my dorm room before discovering Amazon. Then scaled a 25 million dollar Amazon business selling toys and baby products, but always struggled to hire help. That’s when he […]

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.

close

Get the guide to growing your small business

In the 7 Steps to small business marketing success you'll learn:

  • check
    Why strategy must come before tactics
  • check
    Why and what customers really buy
  • How to make Google your new best friend
  • How to install an integrated marketing system