November 02, 2009 15:02 ET Reaches $100 Million in Microloans Around the Globe

World's First Microlending Website Continues to Fight Poverty and Empower Entrepreneurs, Thanks to $100 Million in Loans From the Kiva Community

SAN FRANCISCO, CA--(Marketwire - November 2, 2009) - October marks two considerable milestones for -- the world's first micro-lending website for the working poor. This month, celebrates its fourth anniversary, in addition to reaching over $100 million in loans.

Since launching in October 2005, has provided loans to more than 239,000 entrepreneurs in over 50 countries. Upwards of 573,000 lenders have given through, lending over $100 million at the end of October 2009 -- an increase of nearly $60 million since the same time last year.

"This momentous time in Kiva's short history is proof that people see the value of social investments, even in difficult economic times," said Premal Shah, President of "Four years ago, we introduced the technology that has made online microlending possible. As we look to the next five years, Kiva, alongside our community, will continue to dream big as we strive to make Kiva the world's hub for alleviating poverty."

In the past 12 months, Kiva has realized several notable accomplishments, including:

--  Kiva API: In January 2009, introduced the Kiva API to the
    public so that developers can build tools and applications with
    data. New applications that were made possible by the Kiva API include Kiva
    Alerts, an application that lets you know when a loan of your preference is
    available for funding and Kiva World, a live map of global Kiva loans in
    all stages.
--  United States Pilot: In June 2009, launched a pilot expansion
    in the United States, allowing individuals anywhere to make small loans to
    U.S. entrepreneurs through This expansion has greatly contributed
    to the number of lenders and the volume of new loans coming through Users lent over $224,000 to U.S. borrowers in June alone, making
    June's biggest month by volume up to that point.
--  Auto Lending: In September 2009, introduced a way for
    individuals to lend automatically to specific types of loans, without
    having to search Many members of the Kiva community had requested
    the flexibility to manually choose loans when time permits, but also to
    automatically choose loans when on vacation or short on time.
--  Global Expansion: This year, entrepreneurs from four countries have
    been added to for the first time, including Armenia, Kyrgyzstan,
    Liberia and Mongolia. also added new field partners in Bolivia,
    Ecuador, Gaza, Kenya, the Philippines, Vietnam and the West Bank.
--  Accolades: This year, was named one of the 50 Best Websites
    of 2009 by TIME magazine. was also recognized by TiE50 as one of
    the hottest start ups of 2009, Matt Flannery and Premal Shah were
    recognized on the Fortune 40 Under 40 list, Premal Shah was recognized by
    The World Economic Forum as a 2009 Young Global Leader, and Medinge Group
    listed as one of the year's Brands With A Conscience.

To keep the momentum and continue to drive innovation in microfinance, has developed a Five Year Growth Plan. Over the next five years, the organization hopes to raise one billion dollars in loans over the internet, reach two million entrepreneurs around the world, and realize's own self-sufficiency in the process.

About is the world's first person-to-person micro-lending website, empowering individuals to lend to an entrepreneur across the globe. Founded in 2005,'s mission is to connect people, through lending, to alleviate poverty. Over 585,000 people have loaned more than $100 million to 249,000 entrepreneurs in 49 countries. Currently, loans made through have a 98% repayment rate. is headquartered in San Francisco.

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