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Kiva will use the $15,000 prize initially to fund approximately 50 loans of about $300 each to global entrepreneurs. All repayments made from these loans would then become donations to Kiva’s general operating expenses. For every $1 in donations that we spend building and improving our platform, Kiva can potentially generate an additional $10 in loans from the internet community – meaning the prize could have an impact of up to $150,000 in new loans.
Thank you for your support of Kiva!