Monday, June 12, 2017
KIVA’s Impact Around the World
The CEO and president of Pinnacle Hotels USA, Bharat Lall, MD, oversees a team of more than 550 people in his efforts to provide quality hotel experiences to consumers. Beyond his work, Dr. Bharat Lall supports several charitable organizations, including KIVA, a nonprofit that encourages people from all over the world to lend money via crowdfunding for use by entrepreneurs in developing countries.
Since its formation in 2005, KIVA has had a demonstrable effect on entrepreneurship in its areas of operation, which include over 80 countries throughout Europe, South America, Africa, and Asia. Over 12 years, supporters have loaned $979 million to 2.4 million borrowers via the KIVA platform. In total, KIVA has been able to provide funds to over 229,000 people in conflict zones throughout the world, in addition to supporting the efforts of almost 580,000 farmers and 800,000 borrowers in less developed nations.
KIVA places a particular focus on supporting female entrepreneurs, who may have difficulty attracting funding for their ventures. In total, 83 percent of KIVA borrowers are female.