KiVa

Kiva is a term with more than one notable use. In Puebloan cultures, a kiva is a sacred ceremonial chamber used for meetings, rites, and community activities. It is typically a round or sub-surface room, often built with adobe or stone, and may include features such as a fire pit, ventilation shaft, and a ladder for access. The word and concept originate from Pueblo languages, where the space is considered a ceremonial and communal heart of the settlement.

In modern usage, Kiva refers to an international nonprofit organization that operates an online lending platform. Founded in 2005 by Matt Flannery and Jessica Jackley in San Francisco, Kiva connects individual lenders with microfinance institutions (MFIs) worldwide to fund small loans for entrepreneurs and underserved people. The loans are funded by lenders through the Kiva platform and are repaid over time to the MFIs, which then recycle funds to new borrowers. Kiva does not issue loans directly and does not charge lenders interest; MFIs determine loan terms and interest rates according to local practice. The organization supports its operations through donations, partner funding, and sponsorships.

Kiva operates in many countries and partners with a network of MFIs to broaden financial access, aiming to alleviate poverty and support small-scale entrepreneurship. It has attracted both praise for expanding access to credit and criticism regarding the transparency of impact, the interest charged by some MFIs, and questions about the long-term effectiveness of microcredit. The organization continues to emphasize transparent lending practices and user engagement on its platform.