On Tuesday, Kiva Zip’s Jonny Price announced the lending platform’s numbers from November 2011 (its launch) to December 2015 (present).
Kiva Zip is a program from Kiva where people may make loans directly to entrepreneurs for as little as $5. It has three goals:
- Help entrepreneurs access the financial services they need
- Lower fees and interest rates to make borrowing more affordable
- Cultivate community between borrowers and lenders
Users of Kiva Zip can choose a small business owner that they want to support with a loan of $25 or more. That loan helps to crowdfund the borrower’s full loan request. IFFF’s loan matching will match what the public crowdfunds, doubling the public’s impact. As a result, underserved small businesses seeking credit through the QuickBooks Financing platform could get funded twice as quickly.
Price shared in a tweet:
Check out the numbers below.