PayPal & Kiva: Help Entrepreneurs Around the Globe
Oct 16, 2017 12:00 PM ET
A rising tide of financial empowerment creates meaningful value for all. At PayPal, we believe in the combined power of technology and compassion to create life-changing opportunities for those who need it most. For more than a decade, we’ve worked hand-in-hand with the nonprofit micro-lending pioneer Kiva, to enable loans to people and entrepreneurs who do not have access to capital or traditional financing. These small, crowd-funded loans not only help build businesses, they create jobs, opportunities and stronger economies. We’ve seen the powerful impact this has on the livelihoods of families, neighborhoods and communities. That’s why today, we’re pleased to announce the launch of our second lending campaign in collaboration with Kiva. Now through October 25th*, PayPal customers who make a qualifying loan of $25 or more through our campaign will receive a $25 Kiva credit to direct a second loan to an entrepreneur they select from Kiva’s platform**. We encourage you to learn more about Kiva and our unique partnership through the video below. If you’re inspired, please join us by making a loan. During last year’s campaign, over 10,000 PayPal customers and employees made a loan to entrepreneurs around the world. Elviza is one of those entrepreneurs. Based in the Philippines she is a mother of five children. She owns a small fishing business and works tirelessly to support her family but she still could not afford to send her children to school. Loans made by the PayPal community through Kiva helped change all that. With a little more money to invest in supplies, Elviza was able to build her business, not just keep it afloat. She can now save and invest in her children’s education, ensuring them a secure future. It’s stories like Elviza’s that have inspired and deepened our commitment to collaborate with Kiva. Over the past twelve years, Kiva has enabled over $1B in loans to over 2.6 million borrowers. PayPal has powered these loans at zero cost because we believe that, with each loan, we’re enabling more people to participate and thrive in the global economy. As we further our mission of improving the financial health of people and businesses, Kiva will continue to be a key partner. We hope you join us in this effort and help create a world of change. *Terms and conditions of the campaign are listed here. ** Payments toward the second loan will go back into the platform to fund new loans.
Sean Milliken, Head of Global Social Innovation, PayPal