How to borrow loans from Kiva.

Kiva org

Kiva is a microfinance organisation registered in the US as a not for profit lender specialized in availing loans to the low income population worldwide.It was founded in the year 2005.Today,,Kiva has spread to over 80 countries with a total of over US$850million worth of loans disbursed.The lender facilitates loans through field partners to over 15000 borrowers monthly.Kiva gives out loans that are aimed at changing peoples lives.


Where does Kiva get its money
This financier relies on volunteer lenders mainly and a few grants,corporate and foundation sponsorships.Volunteer lenders donate to Kiva through the website or choose to lend directly to a borrower through the same platform.

Borrowing from Kiva
How can an individual or a business apply for a loan from Kiva?This is the reason for this post.There are two ways a borrower can ask for a loan from this lender.It's either through Kiva website or through Field partners.

1.Applying for a kiva loan through the Website.
Only applicants from the US can use this method.Borrowers join the Kiva Zip community before asking for a loan.
STEPS;

• Fill an online application form.
• Lend to a fellow borrower.
• Invite family and friends to lend you .
• Let your first lenders who are your relatives to post you on Kiva website where millions of volunteer lenders will see your profile.
• Volunteer lenders will then start lending you.
• Do your business and repay.

This method relies mostly on your trustworthiness rather than your creditworthiness.

2.Applying for a kiva loan through a field partner 

Many countries covered by Kiva services depend on this method, that is applying for credit facilities through Field Partners.What are Field Partners? They are financial institutions, mostly specialized in micro credit ,that were approved by Kiva Org management to facilitate loans to borrowers in their various locales.All of these field partners are stable and fully operational financial institutions.

Borrowers don't need to mention Kiva to be attended to.These institutions do their own communication to Kiva about the borrowers who seek their services.Field Partners receive,edit and upload the borrower details and story to Kiva website where interested lenders can choose to support the borrower.If an applicant's loan gets fully funded,the Field Partners declares your loan approved in full.

Field Partners in Kenya.
Kenyans depend on field partners very much.Field partners reach and educate the communities they are located in.These institutions give out loans for various purposes like education, startups,business expansion, solar and other clean energy loans.There is a high probability of getting loans approved with field partners compared to other financial institutions not related to kiva.Kiva managers always review field partners every now and then.Partners who rate poorly in terms of financial risks are inactivated never to participate for a while until they rate good again.At the moment, these institutions are field partners in kenya;

1.  SMEP microfinance bank
2. Yehu microfinance trust
3. Strathmore university
4. Milango financial services
5. VisionFund kenya
6. Kenya ECLOF
7. Evidence Action
8. Juhudi Kilimo
9. Hand in Hand Eastern Africa
10. Burn manufacturing company
11. PowerGen renewable energy
12. KOMAZA
13. Honey care Africa
14. Asante Kenya foundation
15. Moringa school
16. Yamamoto biogas
17. The alliance for artisan enterprise at the Aspen institute
18. Housing finance foundation
19. Fledge
20. MicroEnergy credits
21. Eco zoom
22. Nuru international
23. iSmart kenya
24. Paradigm project
25. One degree solar
26. Junior achievement kenya
27. Sanergy
28. Barefoot power.

You can check for details of each of the above financial institutions by using the search bar on this blog.