How Kiva Micro-loans Support Families in the Developing World

Retired Synermed CEO James Mason continues to support initiatives that increase the well-being and health of people facing poverty. In addition to working with several locally based nonprofit organizations, James Mason is a frequent donor on the crowdsourcing website Kiva, dedicated to eradicating poverty through microfinancing.
For more than a decade, San Francisco-based nonprofit Kiva has increased access to start-up capital for 2.9 million entrepreneurs in 86 countries. Kiva enables residents of financially underserved communities in the developing world to obtain micro-loans to start a business, which raises living standards for individuals and their families, promoting financial independence and economic growth.
Lenders can finance part or all of a borrower’s loan amount. One hundred percent of all donations are disbursed to the borrower, who pays back the sum and interest over a set period. To date, Kiva loans have a 97 percent repayment rate.
Kiva programs are especially impactful for women, who traditionally have reduced access to capital and economic opportunities. The organization facilitates about $2.5 million in loans each week to fund initiatives including agriculture, education, and clean energy.
