Mogo’s commitment to Kiva

1 new customer = $1 to Kiva = 1 to the developing world
1 new customer = $1 to Kiva = 1 new life in the developing world

For every new customer, Mogo is loaning $1 to Kiva to help entrepreneurs in the developing world lift themselves from poverty.

Kiva is the world’s first non-profit, person-to-person micro-lending website.They help individuals in the Third World start their own businesses by loaning them money. So when you borrow money from Mogo, you’re empowering someone to start a new life.

Kiva gives loans that change lives. And so do we, because we’re committed to giving people everywhere the innovative financial solutions they need to succeed.

A Fistful Of Dollars: The Story of a Kiva.org Loan from Kieran Ball on Vimeo.

What is micro lending

Micro-lending is a business loan for people in the developing world who don’t have access to credit. Usually, these individuals lack the income, collateral or credit history to get a loan from a bank.

Because a small amount of money goes such a long way in the developing word, micro-lending allows entrepreneurs who aren’t considered “bankable” to start businesses and become self-sufficient.

Most entrepreneurs repay the loan and build a successful business — which means the money becomes available for another Kiva loan.

So when we lend $1 to Kiva, we’re changing lots of lives.

Banker to the poor

Kiva was insired by Professor Muhammad Yunus, who established the Grameen Bank in Bangladesh in 1983, fueled by the belief that credit is a fundamental human right. His objective was to help poor people escape from poverty by providing loans on terms suitable to them and by teaching them a few sound financial principles so they could help themselves.

In 2006, Yunus and the bank were jointly awarded the Nobel Peace Prize, for their efforts to create economic and social development from below.

“The poor themselves can create a poverty-free world. All we have to do is to free them from the chains that we have put around them… This is not charity. This is business: business with a social objective, which is to help people get out of poverty… Poverty is unnecessary.” -Muhammad Yunus

Click here to find out how much money Mogo has raised for Kiva.