First Web Site to Let Anyone With a PayPal Account Be a "Banker to the Poor" Marks First Year With Unprecedented Success
SAN FRANCISCO, CA -- (MARKET WIRE) -- October 17, 2006 -- Kiva.org, the first person-to-person micro-lending Web site that enables an individual to finance a micro-entrepreneur in the developing world, marked its first year anniversary. Since its launch, Kiva.org has become known as "the merger between Microfinance and Web 2.0" due to its ability to create a transparent, connective and affordable option for anyone on the Internet to lend directly to the working poor. Inspired by Mohammad Yunus and Grameen Bank, Kiva's aspiration was to take microfinance online; in just one year, the organization has been widely recognized as the leader in online microfinance, has attracted a significant base of lenders, borrowers and partners, has built a staff and board of directors, and has received accolades from the press and industry leaders.
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