Kiva

Matt Flannery. Matt began developing Kiva in late 2004 as a side-project with while working as a computer programmer at TiVo, Inc. In December 2005 Matt left his job to devote himself to Kiva full-time. As CEO, Matt has led Kiva's growth from a pilot project to an established online service with partnerships across the globe and millions in dollars loaned to… See full bio.

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Story: Read about the story of Willis, who is the owner of a minority-owned business in the Bay Area, trying to keep the 'mom-and-pop' shop alive in the Bay Area: Willis is a veteran electrician, having worked in this trade for the past forty years. He remembers one of his first projects as an electrician: on stage for jazz pianist Herbie Hancock. "He was using a lot of synthesizers and microphones, so it wasn't an easy job." Willis keeps a photo of Mr. Hancock hanging in his office in Oakland, California. In 2007, after working as a union electrician with large companies for 34 years, Willis decided to open his own business: Special Electric Construction. He wanted the freedom to take on the projects he is most passionate about: industrial and public works, such as bridges, schools and public buildings. He also wanted to have more control over the decisions that are made around purchasing and managing project budgets. "I've seen so much waste in 34 years," he said. As the son of a general contractor, Willis is proud to own a professional electrician business. “There are very few ‘mom-and-pop’ shops left,” he says, “because of the competition from larger players.” As a minority-owned business and a certified Small and Local Business, Willis's shop fulfills an important niche in the Bay Area. Willis’s biggest challenge so far has been finding a line of credit to support the upfront costs of larger projects. He sought a small business loan from his bank but, despite being a home-owner and successful businessman, he couldn’t qualify for a loan because he had never borrowed on credit cards and usually avoids taking on debt. When he saw Opportunity Fund’s small business loan program featured on the local news, he decided to apply. With a $5,000 loan, his first from Opportunity Fund, Willis will purchase and install exhaust fans in a building he is working on in Oakland. The loan will act as the line of credit he needs to purchase these costly items before his clients pay him for the job. In addition, this loan will ensure that he is able to start establishing a credit history for his business. (Read more stories about other lenders around the world at: http://www.kiva.org/lend/226416)

Evidence of Impact Summary:

Kiva has 132 microfinance partner institutions in 185 countries, with 249,000 lenders and $100 million in loans distributed.

Organization Strengths Summary:

Microfinance experts believe that Kiva is doing a great and innovative job at marketing and getting the general public engaged and informed about microfinance.
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Areas for Improvement Summary:

At the same time, the experts believe Kiva can increase their product offering, add additional features in their model, and increase their transparency.
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Matt began developing Kiva in late 2004 as a side-project with while working as a computer programmer at TiVo, Inc. In December 2005 Matt left his job to devote himself to Kiva full-time. As CEO, Matt has led Kiva's growth from a pilot project to an established online service with partnerships across the globe and millions in dollars loaned to low income entrepreneurs. Matt is a Draper Richards Fellow, Skoll Awardee and Ashoka Fellow. He graduated with a BS in Symbolic Systems and a Masters in Philosophy from Stanford University.

The nonprofit has not added any comments yet. If you are a representative of this nonprofit and would like to leave a comment, please email us at feedback@myphilanthropedia.org with your request.