Paulovia provides loans or microfinance via www.kiva.org to entrepreneurs throughout the developing world to alleviate poverty. It is a unique and direct method of improving the lives of people and their local economy in the form of business loans. The beauty of the scheme is that the loans are usually repaid (currently 98%) enabling us to lend again and again!
Together we CAN make a difference!
As of 18 July 2011: Total funds currently committed to loans is $329.91 USD
Total Loans since 18 April 2010: $1489.90 USD to 47 entrpreneurs, groups or individuals in 32 countries via Kiva
Loans defaulted since 18 April 2010 (Lost): $23.06 USD
Loans by Sector: Food 19.15% / Agriculture 27.66% / Retail 6.38% / Construction 6.38% / Education 10.64% / Health 6.38% / Transportation 4.26%
Housing 4.26% / Clothing 4.26% / Manufacturing 2.13% / Personal Use 4.26% / Services 2.13% / Arts 2.13%
Loans by Gender: Female 57.45% / Male 42.55%
Entrepreneurs in these countries have received LoanAid: Togo, Mali, Nicaragua, Kenya, Lebanon, Tajikistan, Liberia, Dominican Republic, South Sudan, Kyrgyzstan, Uganda, Peru, Armenia, Azerbaijan, Mongolia, Cambodia, Iraq, Ecuador, Georgia, Rawanda, Senegal, Palestine, Bolivia, Zimbabwe, Jordan, Burundi, Pakistan, Mexico, Samoa, Paraguay, the Democratic Republic of Congo and Benin.
Visit Prince Paul's page on Kiva to see current loans to entrepreneurs worldwide.
Microfinance is the supply of small loans or small savings and other basic financial services to the poor who usually do not have access to banks and lending institutions.
Loans are usually managed through a microfinance institution or MFI, an organisation that provides microfinancial services ranging from small non-profit organizations to large banks.
MFI can be defined as any body (credit union, financial NGO, small commercial bank or credit cooperative) that provides financial services to the poor.
Kiva connects and empowers individuals to lend to entrepreneurs in the developing world, combining microfinance with the web.
Dignity and mutual respect is maintained as partnerships between lender and entrepreneur are created as opposed to benefactor relationships.
Accountability is encouraged through loans more than donation aid where repayment is not required.
Transparency is provided through the Kiva website where communication flows freely.
Total loans through Kiva of $131,792,885 USD have been made by lenders in 196 countries to 335,506 entrepreneurs.*
Women micropreneurs comprise 82.27% of all Kiva loans made.*
Repayment rates on Kiva loans is 98.56%.*
*Statistics: www.kiva.org/about/facts (18 April 2010)