Kiva and PayPal have been supporting global entrepreneurs in their collaboration for 20 years.
The collaboration between PayPal and Kiva demonstrates that technology can broaden access to opportunities by making it easier for people to support entrepreneurs around the world.
San Francisco, November 12th / PRNewswire / -- PayPal (Nasdaq ticker: PYPL ) and Kiva announced today that they will extend their partnership, which has lasted for over 20 years, for another 5 years. PayPal supports all lending activities on Kiva and ensures that 100% of each dollar lent is used to provide loans to entrepreneurs around the world. Kiva is a crowdfunding non-profit organization that allows anyone to borrow starting from $25 to support small businesses in more than 80 countries.
Kiva CEO Vishal Ghotge stated: "This renewal is about both the future and the past. Entrepreneurs and small business owners in our global community are building real businesses, creating jobs, and strengthening their communities. Through the technology provided by PayPal to Kiva.org, over 2 million people have been granted loans, which proves that the spread of goodwill is far-reaching than most of us imagine. The commitments of PayPal will help ensure that the efforts of both parties continue for a long time to come."
With the support of PayPal, 2 million people have lent funds on Kiva, facilitating over 9 million loan transactions and enabling the disbursement of more than $2.6 billion in loans to entrepreneurs in over 100 countries. Today, Kiva issues a loan every 6 seconds on average, with approximately $18,200 being lent out each hour.
PayPal Chief Corporate Affairs and Communications Officer Amy Bonitatibus stated: "Very few relationships can last for 20 years. Even fewer relationships improve over time. Kiva has proven that a small loan can also have a huge impact. PayPal will continue to support the communities we serve by providing them with the necessary tools to help them thrive in the digital economy."
Kiva, a borrower from Missouri, Janae said: "It's easy to change someone's life through Kiva. I'm always amazed by the impact we can have on others."
These loans have helped people like Kiran. Kiran is a student who grew up in Nepal, watching her mother work hard to create a better future for her. When she needed funds for higher education, traditional loans were out of reach. Through the Kiva loan, Kiran is now not only paving a path for herself but also thinking about how to open the same doors for others.
Kiran said, "I realize that what hinders many people is not a lack of skills, but a lack of opportunities. It's amazing that microloans can actually change people and help them through life's journey."
As part of its 2025 Global Impact Report, PayPal announced a new goal for 2030: to support 25 million individuals and small businesses in acquiring the resources, skills, and training they need to thrive in the digital economy. The network of entrepreneurs and small business owners across the globe, which is part of Kiva, along with the generosity of global lenders, is also helping to drive these entrepreneurs to success.
About PayPal
PayPal is committed to creating an innovative experience, making the flow of funds, sales, and shopping simpler, more personalized, and safer. PayPal helps consumers and businesses in about 200 markets to participate and develop within the global economy. For more information, please visit https :// www.paypal.com, https :// about.pypl.com, and https :// investor.pypl.com.
About Kiva
Kiva is a global non-profit organization founded in 2005 with the mission of expanding financial accessibility and helping underserved communities to thrive. Through Kiva.org, anyone can lend as little as $25 to support entrepreneurs around the world. To date, more than 2 million people from over 100 countries have contributed over $2.6 billion in loans, with a repayment rate of 96%. For more information, please visit kiva.org.
News contact person:Julia Tisdal, The Sway Effect
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