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We’ve Financed Over $150,000 for Female Entrepreneurs Worldwide with Your Help

2 min read • Apr 26, 2019 • Andrew Mosteller

That’s right, if you’ve ever financed a loan through us or benefitted from any of our financial products, you’ve helped us in our efforts to fund microloans for small businesses across the globe. How do we do it?

For every loan facilitated on our marketplace platform, Lendio Gives donates a percentage of funds to low-income entrepreneurs around the world through Kiva, a San Francisco-based nonprofit. Kiva helps alleviate poverty by giving small business borrowers in impoverished countries access to short-term microloans.

Best of all, every dollar we send goes directly into the pocket of a small business owner in need. As a  bonus, most of the small business owners serviced by Kiva are women-owned. Not only is Kiva eliminating poverty but they’re also breaking down barriers for female entrepreneurs who are still at a disadvantage when it comes to traditional loan approval rates.

“When the bank says no, micro credit becomes the answer for many of the world’s entrepreneurs,” said Brock Blake, CEO and founder of Lendio. “Lendio Gives was created to make a positive global impact. By giving even a small boost to underserved businesses, we empower individuals to take advantage of opportunities.”

93% of the loans we’ve funded went to female entrepreneurs. We’ve lent a total of $161,400 through 6434 microloans through Kiva so far. These loans support a wide variety of industries: 2126 of our loans went to food, 1809 to retail, 967 to agriculture, 742 to clothing, 405 to services, and 71 to construction.

In addition to supporting industry growth, the money also supports many underprivileged nations, with 591 loans going to the Philippines, 573 to Rwanda, 562 to Senegal, and 482 to Zimbabwe. Lendio donations have gone to help 79 of the 80 countries Kiva currently services.

After the loans have been repaid, we reinvest the money into Kiva’s programs so we can keep building a bigger and bigger pot of support for small business owners across the globe.

Last month, Lendio was the second largest Kiva donor—we couldn’t quite edge out Google. While that’s a big name to stand next to, it wouldn’t be possible without our awesome employees. 85% of Lendio employees contribute a portion of each paycheck to the program.

“Lendio’s participation in the Kiva microloan program starts with regular, generous donations from the majority of our 150 or so employees,” said Blake. “Many of our peers that give to Kiva have upwards of 100,000 employees, and it’s an honor for Lendio to be listed among them as we strive to support the dream of entrepreneurship.”

Because that’s really what it’s all about: the small businesses who keep the globe turning, our bellies fed, our hair cut, and our dogs walked. It’s everybody who ever had a great idea and turned it into a viable business.

If you want to change the world, start small.

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Andrew Mosteller

Andrew Mosteller is a freelance writer and regular contributor to Lendio News. His upbringing in an entrepreneurial family nurtured a passion for small business at a young age. Andrew's father, an equity fund manager, taught him the ins and outs of investment financing. Now, Andrew spends his time writing copy for business owners, helping them expand and advertise their unique brands. He's also studying Strategic Communications at the University of Utah. When Andrew's fingers aren't glued to the keyboard, he spends his time reading, podcasting, composing music, and bombing down the ski slopes.