“You can’t just lend money to people in Africa!” is what Kiva co-founder and CEO Matt Flannery was told when he described to a family friend his vision of a non-profit. Having spent some time in Africa, Flannery decided to put his entrepreneurial talents to good use by founding Kiva, a non-profit organization on a mission to alleviate poverty through microloans. By collaborating with microfinance institutions, Kiva allows individuals to lend as little as $25 to people in developing nations so that they can start or expand small businesses.
For several years, Fenwick has proudly provided pro bono legal support to Kiva, helping the organization to successfully navigate the myriad regulations standing between the benevolent lenders and the borrowers on the other side of the globe. Since Kiva was founded in 2005, it has had over 1 million lenders, who have collectively raised nearly $500 million in loans.
As it turns out, you can “just lend money” to people in Africa.
To learn more about Kiva and how Fenwick and Kiva work together, check out our video:
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