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Online Cash Loan with Kiva Philippines

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Cash Loans Terms in Kiva Philippines

Amount
... PHP
Term
... days
Application processing speed
5 minutes
Payout rate
24 hours
Schedule
24 hours a day
Extension
Allowed
Official employment
Necessarily
Age years
18-75
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Useful information

Kiva

Kiva founded in 2005 in San Francisco as an international nonprofit financial organization in order to expand access of underserved communities to financial opportunities. More than 1.7 billion people in the world still remain unbanked and loose the opportunity of using financial services they need. Kiva corrects this injustice by crowdfunding loans. The company unlocks capital for the underserved people, improving their quality of life. With Kiva, students can pay for studies, men and women can start or develop their businesses, farmers feel safer even in case of bad harvest and families around the globe can afford needed emergency care.

Kiva offers all people become a part of common good and invest money. Your lending of even $ 25 on Kiva, you help someone in a difficult situation, you can become the one who makes the difference. 100% of money you lend on Kiva go to funding loans.

Facts about Kiva’s service

  1. After the borrower applies for the personal loan, it goes through evaluation process. Appropriate loan applications are posted for fundraising. Each investor can contribute 25 dollars or more. When the whole sum is collected, borrower receives the money. When the loan is repaid, investor can relend it, withdraw or even donate.
  2. Kiva’s repayment rate is 97%, which is a high number among online lending agencies. Though, lenders must be aware of certain risks.
  3. Kiva helps borrowers in more than 80 countries of the world. These people are usually financially excluded and have no access to other fair and affordable financial aid. Filipinos are eligible of borrowing with the help of Kiva. Kiva clients work in different industries: students, artisans, shopkeepers, teachers, farmers, builders or restaurant owners. Kiva Field Partners and Trustees help identify and vet borrowers whose loans will be approved for crowdfunding on Kiva.
  4. Lenders of Kiva do not get any profit from supporting loans applications. Interest paid by the borrower is accumulated by Kiva and is used for supporting more people in need.
  5. Kiva cooperates with local microfinance and lending organizations, which set reasonable interest rates. Besides, according to the rules of cooperation Field Partners must fully disclose their rates. Only financial institutions that have a social mission to serve the poor, unbanked and underserved can become Field Partners of Kiva.
  6. In certain cases, Kiva’s borrowers can receive 0% interest emergency loans. Most often those are loans, which are issued directly, without service of a Field Partner.
  7. Kiva does not take a fee from lenders. 100% of financial contributions lent on Kiva are used for funding loans. Operation costs are covered by voluntary donations made by lenders. Besides, Kiva is often supported by international grants and donations from foundations and supporters around the world. Field Partners might also contribute small platform fees as a donation to building innovative technologies that develops a more financially inclusive world.

How to borrow from Kiva?

  1. Order to apply, make sure you are pre-qualified. In case of a positive pre-evaluation , online application takes 20-30 minutes or one hour.
  2. Within about 15 days, prove your creditworthiness. You will need to invite friends and family to lend to you.
  3. With the help of fundraising on Kiva, mire than 1,6 million lenders around the world will see your loan request and have opportunity to support it.
  4. Repay your loan and build your customer base.