The 10th grade classes are starting their annual fundraising efforts to make a whole new batch of KIVA loans this year.
KIVA is a micro-lending organization that helps connect people who are willing to lend money, to borrowers who need money. The loans are made in $25 increments and go primarily to borrowers in Developing countries.
Since Kiva was founded in 2005 over 900,000 lenders have loaned over 420 million dollars to one million borrowers. The remarkable thing is that with no collateral or security required – only the borrower’s signature and word — over 99% of the loans are repaid in full. It’s really cool.
All the sophomores will be raising money for Kiva over the next couple of weeks. There’s also a little friendly competition brewing between the 10 classes over who will raise the most money. So ask a friend about Kiva, and then donate!