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Micro Lender Kiva Passes One Million Borrowers

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March 18, 2013

By Bob Coleman
Editor, Coleman Report

To balance the shocking banking news out of Cyprus and the EU, there is the good news that Kiva has announced it’s passed the one-million borrower mark – to the tune of $400 million.

Kiva.org is the non profit micro lender that has also teamed with several small business development centers, including Valley EDC in Los Angeles.

http://www.vedc.org/client_network/spotlight.php?a=profile&id=198

Kiva is close to passing one million lenders also.

Kiva’s community of 900,000 lenders crowdfund more than $1.5 million in loans per week.

Kiva claims a repayment rate of 98.9%, where lenders are able to relend their money again and again, or withdraw it from the system.

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