Kiva Loaned Out $89 M. in 2011

The Kiva team. (kiva.org)

Kiva, the social microlending site that connects first-worlders with entrepreneurs in developing countries, just released its first annual report. Good news for the microlending economy: Kiva users loaned $89,481,825 in micropayments to the enterprising and the needy from the Democratic Republic of the Congo to Pakistan, which represents a 20 percent increase over last year. Kiva also started providing loans within the U.S. and has supported hurricane survivors in New Orleans. Read More