Session 4a: Jessica Jackley and the KIVA Story

• “My parents convinced me I could do anything and I believed them.”
• “I can do something of ultimate significance.”
• Learned about Microfinance in school, the power of a small amount of capital, and the difference it would make for poverished entrepreneurs
• kiva.org Individuals can go to site and view profiles of people they can loan to... as little as $25 can be loaned... Average loan size is $500-$600.... average contribution is just over $100
• Repayment rate is 98.5%
• The fact people are out there that care is bigger to the entrepreneurs than the money in many cases
• Meritocracy- "The Best Ideas Win"
• We create tools to make it easier for people to expand the vision, Open Source, co-creation
• What- Connect People, How- Through Lending, Why- Poverty Alleviation (Mission)
• Decisions are made against the vision... they've turned down millions of dollars when it was "off-vision"
• Common purpose is the best way to predict outcomes in an unpredictable environment
• The church should be the greatest place for the life of new ideas, innovation, and revitalization
• The loan is an opportunity for connection with people
• Give people the opportunity to "experience" the joy of giving, don't "tell" them why they should give
• "I hope fear never causes us to not take chances, pioneer, and new risks..."
• Don't be afraid to start small... have the patience to work with one person at a time and eventually work to scale
• Start. You'll learn more actually doing rather than getting bogged down in a business plan for too long
• When we truly believe in the possibility of one another, you don't have to convince people to act. People will respond.
• Theoretically, a Kenyan food stand worker could some day loan to a San Francisco entrepreneur and continue to build the world community