Columbus Helping Entrepreneurs Get Access to Microloans Through Kiva
Rev1 has been a Kiva investor since early 2013. We have invested in 10 entrepreneurs; some have fully paid their loans back; some are still paying.
Sticking as close as possible to the Rev1 model, we look for entrepreneurs who are technology-focused or who are creating innovative approaches to old problems, from solar energy to water distribution. We perform due diligence on the entrepreneurs from their Kiva profiles—looking for entrepreneurs (and Kiva lending partners) who seem likely to repay their loans so that we can reinvest in the next entrepreneur.
Our goal is for our Kiva investment fund to be evergreen. As the entrepreneurs pay us back, we invest in new entrepreneurs. However, we’re big fans of Kiva entrepreneurs, so we usually add a bit more to the fund each quarter.
We have a gender and geographically diverse portfolio. We haven’t invested in the same country twice. Our entrepreneurs’ business including farming, mobile phones, cosmetics, computers, and a barber shop.
We benchmark our performance.
And now we are using our Kiva fund as a professional development and team building opportunity for new associates as they join the Rev1 team. Everyone at Rev1 enjoys being part of helping entrepreneurs around the world. Kiva gives us the opportunity to be directly involved.
We are excited Kiva is headed to Columbus, our city hopes to raise $225,000 through public and private grants in support of Kiva. Read the full story published in Columbus Business First.
