We’re partnering with Kiva, a nonprofit that connects grass roots entrepreneurs from around the world with the capital needed to help create better futures for themselves and their communities.

BlackRock Philanthropy: Kiva Logo

Founded in 2005, Kiva is an international nonprofit headquartered in San Francisco with a mission to connect entrepreneurs through lending to alleviate poverty. Kiva celebrates and supports people looking to create a better future for themselves, their families and their communities.

Through our partnership with Kiva, we provide each BlackRock employee with $25 to make a loan to an entrepreneur in need of capital in the developing world to start or grow their business or to improve the health of their families.

Our employees are able to search the Kiva website across a variety of factors, including geography, gender, loan duration and use of the loan and make a loan to an entrepreneur of their choice.  As loans get repaid employees will have the opportunity to lend again on the Kiva platform so it has a multiplier effect over time.

We have also provided financial support to the Women’s Entrepreneurship Fund launch by Kiva and U.S. State Department in 2016.

Since inception, 1.6 million individuals have distributed nearly $1 billion in loans to 2.4 million borrowers in 83 countries, with a repayment rate of over 97%. 81% of Kiva’s global borrowers are women.

What attracted us to Kiva was their forward thinking, market based approach to fighting poverty. By creating access to capital for entrepreneurs who are underserved by the traditional financial system, Kiva works to address a market inefficiency for individuals who are working to build a better life for themselves and their families. Through this partnership we’re excited to offer every BlackRock employee the opportunity to take part in our philanthropic mission and to support grass roots entrepreneurship in the developing world.

— Deborah Winshel, Global Head of BlackRock Impact and Corporate Philanthropy

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