Kiva Launches Online Microfinance in the United States

Partnering to Make Microfinance a Reality in the United States
To facilitate micro-lending in the U.S., Kiva.org has partnered with ACCION USA, a microfinance institution lending in 48 states across the U.S., and Opportunity Fund, a community development financial institution based in San Jose, CA. Recent impact studies found that the business survival rate of ACCION USA's borrowers is 97%, while loan provided creates or retains 1.7 jobs. Additionally, 60% of borrowers report an increase in household income. Opportunity Fund loan recipient created or sustained an average of 2+ jobs, 70% of surveyed clients reported an increase in business revenues, and 65% reported an increase in household income. Opportunity Fund's borrowers have a business survival rate of 85% and a loan repayment rate of 90%.