Kiva in the Philippines

Kiva’s main goal is financial services to people who cannot prove their solvency at banks and credit organizations. As a result, they cannot break out of the vicious cycle of poverty, get an education or start their own business. And although the Kiva service does not take additional interest from borrowers, its representatives – field […]

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Kiva https://upfinance.com/app/uploads/2020/03/kiva.png
875 Howard Street, Suite 340 San Francisco, CA 94103 USA
(828) 479-5482,
Interest rate 0.83% - 3.33%
Loan tenure from 6 to 36 months
Approval duration Up to 120 hours
Min. monthly income1

Kiva’s main goal is financial services to people who cannot prove their solvency at banks and credit organizations. As a result, they cannot break out of the vicious cycle of poverty, get an education or start their own business. And although the Kiva service does not take additional interest from borrowers, its representatives – field micro-financial organizations charge interest from borrowers to cover the cost of servicing the loan.

How to apply?

Apply 20-30 min
Find out if you’re prequalified, then easily fill out our online application.
Invite Up to 15 days
Prove your creditworthiness by inviting friends and family to lend to you.
Fundraise Up to 30 days
Go public on Kiva, with your loan visible to over 1.6 million lenders worldwide.
Repay Up to 36 months
Build your customer base by repaying your Kiva loan.
Field Partner:

Community Economic Ventures, Inc.

Interest Rates: 40% per annum
Payment terms: Up to 36 months
Approval time: Up to 15 days

Calculate loan

Field Partner:

Gata Daku Multi-purpose Cooperative

Interest Rates: 10% per annum
Payment terms: Up to 36 months
Approval time: Up to 15 days

Calculate loan

Field Partner:

Paglaum Multi-Purpose Cooperative

Interest Rates: 11% per annum
Payment terms: Up to 36 months
Approval time: Up to 15 days

Calculate loan

Field Partner:

SEED Center Philippines

Interest Rates: 18,8% APR
Payment terms: Up to 36 months
Approval time: Up to 15 days

Calculate loan

 

Loan Calculator

%
Monthly payment
₱ 888.49
Total overpayment
₱ 661.85
Total
₱ 10661.85

Product Features

Min. financing amount ₱100000
Max. financing amount Up to ₱1000000
Min. loan tenure 6 months
Max. loan tenure 36 months
Interest rate 0.83% - 3.33%
Approval duration Up to 120 hours
Debt consolidation Yes

Example of calculating interest and loan payments

TERM 6 months 7 months 8 months 9 months 36 months
LOAN AMOUNT ₱500000 ₱500000 ₱500000 ₱500000 ₱500000
FEE 0.83% 0.83% 0.83% 0.83% 0.83%
INTEREST AMOUNT ₱2075 ₱2421 ₱2767 ₱3113 ₱12450
TOTAL REPAYMENT ₱502075 ₱502421 ₱502767 ₱503113 ₱512450

Other Requirements

Need to open linked banked account? Yes

FAQ

You need to apply for a loan on the Kiva website.

After filling out the application, a member of the Kiva team will contact you to understand your business and its features. The loan goes through the verification and approval process.
If your application is approved, you will need to demonstrate your creditworthiness (using social underwriting).
Fundraising begins. Lenders provide loans in increments of 25 dollars.

The method of receiving cash depends on the Kiva field partner who will service your loan. Most often, the money goes to the borrower’s bank account.

No, Kiva is not a commercial organization, lenders receive 90% of the money they invested.

Contacts

Full company name Kiva
Address 875 Howard Street, Suite 340 San Francisco, CA 94103 USA
Phone number (828) 479-5482
E-mail
Social networks

User rating

Reviews

5 months ago

Kiva-Investing in others

Kiva is one of the best experiences I ever had. Through Kiva I was able to get starting capital for my business and it has really been a beautiful journey.

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