Mobilizing the Luther College and Decorah communities to connect with and empower the world's poor through microlending
What is LutherKiva?
LutherKiva, a project of the student group SEEDS, is a network of Luther students/faculty/staff/alumni with the mission to:
What is the "$10K for Kiva" campaign?
A campaign sponsored by LutherKiva to raise $10,000 for microlending via Kiva.org. The proceeds will be used to provide members of the Luther community with "free" capital to make loans to the world's poor via Kiva.org. With $10,000 we will be able to make 400 $25 loans. As funds are paid back (12 month average), we will re-lend the funds indefinitely!
What can I do?
What is microlending/microcredit?
Microlending is giving small loans to the poor to assist them in breaking out of the bondage of poverty. Microlending effectively provides hope for a better future, encourages self-discipline required for repayment, empowers the poor (especially women), and establishes self-sufficiency. These loans have proven to be a powerful tool to create wealth among those living on the margin.
Nobel Peace Prize winner Muhammad Yunus writes in Banker to the Poor, “I always return from the villages more convinced that providing credit is a powerful means to create profound change in people’s lives.”
What are the loans used for?
Loan recipients purchase a wide variety of things to help support their families, including:
Why does LutherKiva use Kiva.org to microlend?
Kiva.org provides many advantages to directly lending money ourselves. Kiva.org:
The figure below explains the money trail for microlending through Kiva.org. On kiva.org individuals choose an entrepreneur to lend to. Once the loan is fully funded, the entire loan amount is sent from Kiva.org to the field partner administering the loan. The entire loan amount is subsequently loaned to the entrepreneur. That entrepreneur repays the loan with interest in monthly installments to the field partner. When the principle is fully repaid, the entire principle (with no interest) is returned to the individual lenders’ Kiva.org accounts to be reloaned (or withdrawn).
LutherKiva members with Kiva co-founder, Jessica Jackley (standing left of plant)
Learn more about Kiva.org (VIDEOS):
3 min video from New York Times' Nicholas Kristof
11 min video "The Story of a Kiva.org Loan"
15 min video about The Story of One Kiva.org loan in Uganda
Many other resources to learn about Kiva.org
Detailed story about the beginnings of Kiva from co-founder Matt Flannery
Karishma Sushilkumar and Brett Johnson speak to Northeast Iowa Unitarian Universalist Fellowship