2023 Annual Report
A note from the CEO, Vishal Ghotge
“The expansion of Kiva’s life-changing impact is made possible by our incredible community of lenders, partners, volunteers, donors, and more.”
As I reflect back on 2023 and what was my first year at Kiva, I’m filled with immense joy and gratitude. The life-changing work of our organization elicits a sense of awe and wonder — that thousands of individuals came together under one shared mission: to expand financial access to help underserved communities thrive. Kiva’s purpose is to open the doors of financial inclusion and I’ve had the privilege of witnessing this work in action. In 2023, I met borrowers who shared their stories with me, including Mohammed, a Syrian refugee in Jordan who launched a tailoring business and became self-sufficient thanks to his Kiva loan. In Sydney, I had the opportunity to announce our partnership with the Coca-Cola Foundation alongside Phearong, a former Kiva borrower who defied gendered expectations in Cambodia to pursue her education, leading to her current role as Executive Director of a nonprofit. These stories illustrate both the outcomes of our work and the ripple effects that move far beyond individual Kiva borrowers. Access to finance can change lives and communities, as proven by Phearong, Mohammed, and 5 million more Kiva borrowers around the globe. I invite you to read on to learn more about the impact we were able to achieve together in 2023. — Vishal Ghotge, Kiva's Chief Executive Officer
The Kiva community lent over 5 million times in 2023 — that’s more than 10 loans every minute!
Impact highlights
You created real change for people in our four key impact areas
Together with Kiva’s dedicated community of lenders, donors, partners, and more, we’re creating a world where millions of underserved people can access vital financial services. To ensure we make the greatest impact possible, we focus on four key populations for increasing financial access.
4 out of 5 Kiva loans supported women
You gave women access to fair and equitable financial resources to improve their lives and pursue their dreams. Learn more →
341,702 women reached
$136,992,162 in loans funded
75% of loans to refugees helped start or expand a business
Your loans were lifelines for people affected by forced migration, giving them resources to adapt and rebuild. Learn more →
45,434 people reached
$24,267,250 in loans funded
63% more loans went to veterans than in 2022
You helped small-business owners invest in themselves and build their creditworthiness for the future. Learn more →
2,335 people reached
$7,529,500 in loans funded
7K+ loans supported clean energy projects
You helped people diversify their livelihoods and develop long-term solutions as the environment continues to change. Learn more →
73,472 people reached
$12,900,970 in loans funded
The most popular day to lend was April 18 with almost $2M in loans funded!
The outcomes of our work
9/10 borrowers surveyed said their quality of life improved
The most important part of our work is ensuring that Kiva loans have a positive impact on a person’s life. 60 Decibels, an independent social impact measurement company, surveyed borrowers working with seventeen Kiva Lending Partners to assess the outcomes of receiving a loan, like better quality of life, improved sense of agency, and increased ability to handle the unexpected.
Kiva Lending Partners scored higher than global averages for positive borrower outcomes.
Read more about the Microfinance Index
Your gifts power our ability to support borrowers
The work we do to expand financial access takes a community — people that not only believe in financial inclusion but work together to make it a reality. Donations enable us to support borrowers at every step, from helping Lending Partners improve their services to investing in studies that tell us how loans are improving borrowers’ lives. With a donation of $62K, Kiva was able to integrate 5 Lending Partners into our Partner Application Programming Interface (API), saving them thousands of hours of manual data entry to better focus on what’s important — serving and supporting borrowers. We also expanded our reach to two new countries, and so much more, thanks to your support.
Give to support financial accessNWTF in the Philippines was the top Lending Partner for loans funded.
What we achieved together
We reached $2 billion in loans funded!
In 2023, Kiva celebrated $2B in total loans funded since our founding — the culmination of 18 years of dedication to expanding financial inclusion. We’re so grateful to the Kiva community that made every one of these life-changing loans possible — and to the 50,000 lenders that celebrated this milestone with us by funding an additional $7 million in loans!
Kiva launched innovative projects and initiatives to advance financial inclusion.
Kiva released the Gender Equity Assessment Rating (GEAR) to the public — a tool developed with USAID and used to rate gender equity practices in an organization.
Pictured: Sindhu’s group, food sellers, India
Kiva U.S. launched small business credit reporting, supporting over 600 small businesses, 75% of which are BIPOC entrepreneurs. Pictured: Scott, business owner, United States
The Kiva community helped fund 17 social enterprises, reaching 48,000 people and accelerating meaningful social change in their communities.
Pictured: Walter, water distributor, Uganda
The Kiva community funded almost 200,000 loans on Kiva.org to support borrowers’ goals.
Lend nowBorrowers experienced real, meaningful change in their lives as a result of their Kiva loans.
7,692 people were able to access safe water and sanitation.
Pictured: Rowena, farmer, Philippines
6,029 artisans invested in their craft to grow their businesses. Pictured: Lucia, artisan, Guatemala
28,403 farmers gained access to networks and training that increase their incomes.
Pictured: Rose, farmer, Kenya
Lending Partners and social enterprises brought financial access to new communities.
Kiva connected with 8 new Lending Partners, distributing $2.2 million in loans to over 3,500 borrowers.
We tripled the amount funded to Latin American social enterprises (vs 2022) impacting ~400,000 people.
We worked with strategic partners to expand our reach in key populations.
The Hilton Foundation committed a $500K grant to support refugees through research and capacity building.
In 2023, the Conrad N. Hilton Foundation awarded a transformational $500,000 grant to expand Kiva’s work with refugees and displaced persons in Colombia, Ecuador, and Uganda. Through this partnership, Kiva is helping Lending Partners enhance their ability to serve, lend to, and support refugee populations. This grant also supports research and impact measurement for refugee and displaced borrowers in these countries to better understand borrowing behaviors, identify unique financial needs, and dispel harmful misperceptions of the risks of working with displaced communities. Together, Kiva and the Hilton Foundation will work to increase financial inclusion across refugee and forcibly displaced populations while continuing to spark sector-wide changes in how financial institutions view and support displaced communities.
Through a catalytic grant, TripAdvisor is supporting refugees and displaced people in partnership with Kiva.
The Coca-Cola Foundation is partnering with Kiva to support gender equity through the Change Make Her campaign.
Kiva’s partnership with USWNTPA supported 900 U.S. borrowers in 2023 and earned a Gold Halo Award.
Hitachi renewed its commitment to support climate-vulnerable populations with an additional $250k in loan matching.
Kiva announced two Commitments to Action to support over half a million women and 75,000 refugees in partnership with the Clinton Global Initiative.
News and awards
Kiva wins UserTesting illumi Award for Outstanding Non-Profit
Kiva and partner USWNTPA win Gold Halo Award for best Justice, Equity, Diversity, and Inclusion Initiative
Impact Assets recognized Kiva on its IA50 list of Emerging Impact Fund Managers
Stay updated on all things Kiva
Subscribe to Rooted in Impact, our CEO blog series, for updates on Kiva’s work, plus inspiration, insights, and future plans.
In 2023, Kiva hit a major milestone — surpassing 5 million people reached! That’s more than the entire population of Panama.
Financial overview
Beginning in 2022, Kiva’s fiscal year was updated from a calendar year end to a June 30 fiscal year end. The above summary is from Kiva’s audited financial statements for the fiscal year ended 06/30/2023, which are separately provided in their entirety on our site here (as well as 18 month audited financials ending 6/30/2022). Given the relationship between Kiva entities, certain assets and liabilities are eliminated upon consolidation.
Loans and donations work hand-in-hand to advance financial inclusion
Kiva loans are critical, life-changing funds raised for borrowers around the world.
100% of the money lent on Kiva.org goes to supporting borrowers and their communities.
Kiva Capital unlocks and amplifies large-scale impact for underserved borrowers.
Gifts, donations, and grants
Your contributions power Kiva’s work, enabling us to innovate and expand our support for borrowers who otherwise lack access to critical financial services.
Operational expenses
As a nonprofit, Kiva efficiently manages operational expenses to achieve our mission of expanding financial access and ensure the greatest programmatic impact.
Thank you for an incredible year
The expansion of Kiva’s life-changing impact is made possible by our incredible community. Each of you have helped contribute to this milestone year and we are immensely grateful for your support. While we have much to celebrate and be thankful for, over a billion people continue to be financially excluded today, proving that our work is far from over. As we continue working toward achieving our mission of financial access for all, we invite you to join us in 2024, as we can do so much more together than we could alone. Thank you.
Thank you to these Kiva Community members — and so many others!
Loyal Donors
Fredo Arias-King Kathryn V. Arnold Yury B. Steve Behringer Daryl Benson Katherine Bruce Montgomery Craig Chandler Chris Crabtree Claudine and Michael Ferrante Ian Garcia David Han-Sze-Chuen Porter Harris Shawna Heninger Rolf Hertenstein William Higgins Waldemar Kulajew Nisha Ligon Rebekah Montgomery Jon Moore David Nokes Paul O'Sullivan Scott & Grace Shickler Mary K. Shorb-Smith Daniel Smith Frank Stiebel Samuel Test Gavin White Sara Zion
Legacy Donors — In Loving Memory
Krystyna Belendiuk Jacqueline Clauss Dr. Kim and Marc Coyner Teresa L. Hamlin Martha Lawlor Jack Melill John A. Sherwin Frank Spring Ana Wu Lisa Zurk
Strategic Partners
