HHS245 W 8 Private Funds
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This 0 page Study Guide was uploaded by an elite notetaker on Tuesday November 10, 2015. The Study Guide belongs to fin571 at Kaplan University taught by in Fall 2015. Since its upload, it has received 24 views.
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Date Created: 11/10/15
Private Funds One successful example of a new privately funded human service agency is KIVA KIVA is a San Francisco based organization founded in 2005 and consisting of seven paid employees and a worldwide network of volunteer affiliates KIVA was created to address the lack of financial opportunities for entrepreneurs in underdeveloped ie third world countries KIVA uses an extremely low overhead business model relying on the easy availability of internet access in the United States in combination with cell phones in other countries KIVA39s program is to provide peer to peer lending opportunities KIVA connects primarily Northern American individuals with individual small business owners to provide microloans These microloans average less than 500 per individual and are funded often within 60 hours of application by lenders who each contribute any amount from 25 and up to fund the entrepreneur they choose The loans are repaid over a period of siX to twelve months and lenders typically reuse the funds to lend to other in need entrepreneurs KIVA has an incredible 100 repayment rate to date In order to raise funds KIVA relies 100 on direct donations which are solicited online at their website but primarily through word of mouth In addition KIVA requests donations of 10 of the proposed loan amount to cover their own operating eXpenses KIVA has actually not had to go to great lengths to advertise or solicit funds as the response to their mission has been overwhelmingly positive and KIVA is nearing the mark of involving almost 300000 individual lenders KIVA website httpwwwlltivaorgaDDphppagehome
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