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’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?
Find out if you’re prequalified, then easily fill out our online application.
Prove your creditworthiness by inviting friends and family to lend to you.
Go public on Kiva, with your loan visible to over 1.6 million lenders worldwide.
Build your customer base by repaying your Kiva loan.
Community Economic Ventures, Inc.
Interest Rates: 40% per annum
Payment terms: Up to 36 months
Approval time: Up to 15 days
Calculate loanGata Daku Multi-purpose Cooperative
Interest Rates: 10% per annum
Payment terms: Up to 36 months
Approval time: Up to 15 days
Paglaum Multi-Purpose Cooperative
Interest Rates: 11% per annum
Payment terms: Up to 36 months
Approval time: Up to 15 days
SEED Center Philippines
Interest Rates: 18,8% APR
Payment terms: Up to 36 months
Approval time: Up to 15 days
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 |
| Social networks |
User rating
Reviews
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.
