Matt Flannery
The Kiva Story

Matt Flannery is the well known face of innovation today. Hailed as one of the most successful young entrepreneurs, Matt started kiva.org, an ambitious retail microfinancing service, when he was only 25. Since then, there has been no looking back for Flannery.

Matt has a graduate degree in Symbolic Systems and a Master's degree in Analytical Philosophy. He has received both degrees from the Stanford University. After his graduation, Matt joined TiVo Inc., a fast expanding company, as a computer programmer. While Flannery had just about started making a name for himself in TiVo, he realized he wanted something more and began dallying with the idea of Kiva.

By this time, Matt had started taking an interest in microfinancing, and started developing the project kiva.org on a part-time basis. What started as a social experiment soon took off, thanks to Matt's brilliant entrepreneurial and business skills, and the dream soon became a reality. The idea took shape when Matt, along with his wife, and co-founder of Kiva, Jessica, visited Africa and began wondering about the possibilities there.

What is Kiva and how does it work?

Kiva is an online microfinancing service. Central to its beliefs is the idea that even the poor and under-privileged can turn out to be outstanding performers if they are given enough financial aid. For this, Kiva first established itself in countries like Uganda, Kenya, etc., where the opportunities were low, but potential was very high.

Kiva allows small-time venture capitalists to provide aid to someone they want to give a chance to, and in return not only create a great life for that individual, but earn a handsome profit for themselves as well. The system followed is the method of online payments, which is fast, safe and convenient.

Kiva has started what might be termed as a revolution in micro-lending. It has become successful for the following reasons:

• It is the first and only company to take microfinancing online.
• It allows as little as $25 to be gifted in one transaction.
• Many investors can contribute simultaneously towards a single project, and their returns are proportional to their investments.
• Kiva doesn't believe in donations, and promotes loans instead, which helps the receiver feel self-sufficient.
• Kiva is already active in over 30 countries, and has loaned over $3 million worldwide.
• Since the payment is low, the repayment rates are very high. This makes it very attractive to investors.

Matt Flannery proves that you don't have to wait to start doing something good for the community. If you have an idea that is profitable to both yourself and the community, then you should do it. Don't wait for tomorrow, do it today.

Links and Resources

• Matt Flannery at Kiva.org
• Interview with Matt
• Matt's blog at Social Entrepreneurship site socialedge.org