WILMINGTON — Carl Zaycosky, a fellow Rotarian, spoke to the Wilmington Rotary Club which meets at noon at the Park Vue Restaurant about the KIVA program.
Zaycosky state that the program is a “Super, Terrific, Happy” program. More than 1.7 billion people around the world are unbanked and can’t access the financial services they need. Kiva is an international nonprofit, founded in 2005 in San Francisco, with a mission to expand financial access to help under served communities thrive.
Rotarians do this by crowd funding loans and unlocking capital for the under served, improving the quality and cost of financial services, and addressing the underlying barriers to financial access around the world. Through Kiva’s work, students can pay for tuition, women can start businesses, farmers are able to invest in equipment and families can afford needed emergency care.
Zaycosky said the Wilmington Rotary Club made its first $100 loan on March 18, 2008. Currently the club has made 93 loans and only one loan has defaulted. Rotary has loaned in 28 countries and generally in the agriculture, food and retail sectors. Rotary has tendered loans to women 54 percent of the time.
Zaycosky stated there is need of additional monies to start new loans.
