Kiva Launches Online Microfinance in the United States

SAN FRANCISCO, CA, Jun 10 (MARKET WIRE) --
Kiva.org -- the world's first person-to-person micro-lending website --
has launched a pilot expansion in the United States, allowing individuals
anywhere to make small loans to U.S. entrepreneurs through the Kiva.org
website.

Kiva.org brings its global, online micro-lending platform to the United
States at a financial tipping-point for many small businesses. Small
businesses represent more than 87 percent of all businesses in the United
States, and, on average, these microenterprises are responsible for
900,000 new jobs created per year.(1) Despite these statistics, more than
10 million business owners faced difficulty obtaining business capital --
even before the credit crisis and economic slowdown.

Beginning today on Kiva.org, through partnerships with local microfinance
institutions ACCION USA and Opportunity Fund, individuals will be able to
browse and lend to small businesses across the United States. Through
Kiva's website (www.kiva.org), a loan of $25 can be made to support an
entrepreneur, and the specific progress of the loan can be tracked, from
initial funding to repayment. Upon receiving repayment, lenders can
withdraw their funds or relend to another entrepreneur, thereby continuing
the lending cycle.

"Most people think of microfinance as something that helps people in the
developing world alone, but the impact of microfinance can be felt in any
community that supports creative, industrious entrepreneurs," said Premal
Shah, President of Kiva.org. "Kiva's micro-loan model is extremely
relevant to low-to-moderate income, U.S. based entrepreneurs, especially
given the current economic conditions which makes access to credit a very
real problem. The Internet could become a significant source of community
driven, low-cost capital for the everyday small business owner in the
U.S., and Kiva.org is excited to expand its platform to the U.S. at a
time when the need for such capital is greatest."

Kiva's Roots in Microfinance

Founded as a means to combine the impact of microfinance with the utility
of technology, Kiva.org has risen as a leader in global microfinance over
the past 3 1/2 years. In May alone, Kiva.org users loaned $4.6 million to
entrepreneurs, a 51 percent year-over-year increase and a record month for
Kiva.org. Over $75 million has been loaned through Kiva.org to support
more than 180,000 individuals from 44 developing countries.

The push for Kiva.org to expand into the United States was inspired by
California's First Lady, Maria Shriver, during her visit to Kiva's San
Francisco office in March 2008. As the staff of Kiva.org proudly showed
her the enormous impact the website was having on entrepreneurs in the
developing world, Shriver asked if Kiva's model could be replicated
domestically to support low-to-moderate income entrepreneurs in the United
States.

"The message of The Women's Conference is that we all have the power to be
Architects of Change in our own lives and in the lives of others," said
Shriver. "And this partnership with Kiva.org is a wonderful opportunity
for all of us to team up as a community and empower women entrepreneurs
here in California and across the United States to start and sustain a
small business, become more financially independent, and ultimately
fulfill her dreams. By pooling our resources, a loan as small as $25 can
change a life. Thanks to Kiva.org, being an Architect of Change has never
been easier."

Partnering to Make Microfinance a Reality in the United States

To facilitate micro-lending in the U.S., Kiva.org has partnered with
ACCION USA, a microfinance institution lending in 48 states across the
U.S., and Opportunity Fund, a community development financial institution
based in San Jose, CA. Recent impact studies found that the business
survival rate of ACCION USA's borrowers is 97%, while loan provided
creates or retains 1.7 jobs. Additionally, 60% of borrowers report an
increase in household income. Opportunity Fund loan recipient created or
sustained an average of 2+ jobs, 70% of surveyed clients reported an
increase in business revenues, and 65% reported an increase in household
income. Opportunity Fund's borrowers have a business survival rate of 85%
and a loan repayment rate of 90%.

"While microfinance has long been associated with the developing world,
ACCION USA's work has proven that it is also an established tool in the
United States," said Gina Harman, president and CEO of ACCION USA.
"Microloans not only provide access to capital, but fuel business growth
and job creation -- key factors in driving economic recovery in the U.S."

"With the economy still reeling and federal stimulus dollars yet to hit
the street, Opportunity Fund's mission is more important than ever," said
Eric Weaver, CEO of Opportunity Fund. "Microfinance isn't about bubbles,
excessive leverage or opaque financial products -- it's about old
fashioned hard work and faith in our fellow human beings."

To learn more about how you can help support U.S. entrepreneurs, visit
www.kiva.org.

About Kiva.org

Kiva.org is the world's first person-to-person micro-lending website,
empowering individuals to lend directly to an entrepreneur across the
globe. Founded in 2005, Kiva.org's mission is to connect people, through
lending, to alleviate poverty. Over 500,000 people have loaned more than
$76 million to 180,000 entrepreneurs in 45 countries. Currently, loans
made through Kiva.org have a 98% repayment rate. Kiva.org is
headquartered in San Francisco.

About ACCION USA (AUSA)

ACCION USA is a nonprofit microfinance organization that provides access
to capital and financial education to low- and moderate-income
individuals, primarily minorities and women. A pioneer and recognized
leader in U.S. microfinance, AUSA empowers individuals to create
sustainable businesses, increase family incomes, and contribute to the
economic development of cities across the U.S. Since inception in 1991,
ACCION USA has provided nearly $115 million in small business loans
ranging from $500 to $50,000, offered nationwide via the AUSA online
lending platform. For more information about small business loans, visit
www.accionusa.org.

About Opportunity Fund

Opportunity Fund (formerly Lenders for Community Development) is
California's largest not-for-profit microlender and offers a unique blend
of microfinance products and services to help residents of underserved
communities throughout the San Francisco Bay Area work toward economic
stability. Opportunity Fund is a not-for-profit financial institution that
advances the economic well-being of working people by helping them earn,
save, and invest in their future. Since 1995, Opportunity Fund has used an
innovative model to direct $150 million, and more than 40,000 hours of
financial and business assistance, into neglected neighborhoods, improving
the lives of 10,000 households. For more information, please visit
www.opportunityfund.org.

About The Women's Conference

Under the leadership of California First Lady Maria Shriver, The Women's
Conference has become the nation's premier forum for women. The mission of
The Women's Conference is to inspire, empower and educate women from all
walks of life to be Architects of Change in their own lives, in their
communities and around the world. Every year, the non-partisan, 2-day
conference event gathers the greatest hearts and minds to unite thousands
of diverse women -- 20,000 in person and many more online -- with a shared
conversation and a collective sense of purpose. The Women's Conference has
formed partnerships with established and respected organizations in
California, throughout the U.S. and abroad to develop far-reaching women's
empowerment programs and initiatives. WE Invest, a program of The Women's
Conference, has already been investing in women entrepreneurs in
California, linking them to business training, mentoring, and a support
network which gives them the tools to either start or expand their own
business. This new partnership with Kiva will allow The Women's Conference
to empower thousands of women across the country to become more
financially independent. Founding WE Invest partners include Chevron,
Visa, Wells Fargo and The Women's Self Worth Foundation. For more
information about The Women's Conference and its other WE Programs, visit
www.womensconference.org.

(1) The Association for Enterprise Opportunity (AEO)

CONTACT:
Fiona Ramsey
Kiva.org
(415) 358-7529
Email Contact

Colleen Smith
Fleishman-Hillard
(415) 318-4183
Email Contact

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