Kiva is the world’s first and largest crowdfunding platform for social good and has funded more than $1 billion in loans to entrepreneurs in 83 countries. Fiverr and Kiva share a goal of promoting lean entrepreneurship around the world by giving would-be business owners a hand up, not a handout. In honor of International Women’s Day on March 8, all Fiverr community members can make a first Kiva loan at Kiva.org/InvestInWomen and earn another $25 to make a second loan for free.
Money is powerful, especially in the hands of doers determined to make a change. In celebration of International Women’s Day, one of our favorite nonprofits, Kiva, is rallying to empower 10,000 women around the world in one week by crowdfunding their business loans from March 1st through March 8th.
Micro-lending on Kiva enables entrepreneurs to start or grow their businesses, innovators working to improve the future for their families, students working to earn their business degrees, and many other incredible women and doers pushing for progress in their local communities. When you’re repaid (Kiva’s repayment rate is 97%) you can re-lend those same funds to jumpstart another business and change another life.
Do More for Women Around the World
We know the need is great. According to World Bank, more than 70% of women-owned small businesses in developing countries are either shut out of financial institutions or can’t get the capital they need.
These are women like Phyllis, in Zimbabwe, who needed a loan to start a business after leaving an abusive marriage. A Kiva loan helped her purchase three cows and start a successful business that allows her to support herself, her young daughter, and even her extended family.
Haitian entrepreneur and activist Yve-Car Momperousse used a Kiva loan to jumpstart her skincare line, Kreyol Essence, in 2008. Fast forward 10 years, and now Whole Foods carries her eco-friendly skin care products, Sephora included her in a program to foster women leaders in beauty, and she’s created more than created more than 350 much-needed jobs for women in Haiti after 2010’s devastating earthquake.
Empowered borrowers around the world say that when they, as women, gain access to capital, they also gain a voice in household and community decisions. Through their business ventures, they are able to create opportunities for other young women and help train the next generation of leaders. So you can create real change through the simple action of backing someone’s loan on Kiva.
More than two million women in 83 countries around the world have received loans backed by Kiva lenders—but that’s just the beginning. Doers, let’s do what we do best by putting words into action as a Fiverr community. If you make your first $25 Kiva loan this week at Kiva.org/InvestInWomen, all Fiverr community members will earn another $25 to make a second loan, for free! And stay tuned as we share more stories of female entrepreneurs growing their businesses through Kiva and Fiverr over the coming month.
How are you supporting female entrepreneurs this International Women’s Day? Tell us in the comments below!