The eBay-Kiva partnership
Kiva and eBay share a belief that the Internet can be an empowering force that helps create opportunities for people across the globe. The partnership is a perfect match as it not only advances eBay Foundation’s mission to unleash the power of entrepreneurship to build economically vibrant and sustainable communities, but it also creates a direct people-to-people connection where real impact can be seen and felt by eBay’s employees.
eBay employee engagement
For the past two years, eBay Foundation has engaged its 14,000 employee workforce through a free $25 credit to make a loan to an entrepreneur on Kiva. Employees have the chance to choose an entrepreneur in a variety of sectors and countries, investing in a small business owner around the world. These campaigns see a high participation rate averaging over 50% and give employees the chance to have meaningful conversations with their leaders and teams about financial inclusion.
Through these engagement initiatives, 23,000 entrepreneurs have benefitted from more than $400,000 in loans made by eBay employees. With an average of five people per household in developing countries, where many of these loans are made, the number of people indirectly impacted to date through this program is over 92,000.
Revolving loan matching fund
eBay didn’t stop at employee engagement. They decided to multiply their impact by creating a revolving loan matching fund. As Kiva lenders browse through borrower stories, they’ll see that some of those loans are currently being matched by eBay.org, doubling the impact of loans made on the site. When the loans are repaid, the funds return to the eBay account where they continue to match other borrowers. eBay deposited $90,000 in this revolving loan fund that has now powered more than $228,000 in loans, more than tripling the impact of their funds across 69 countries (and counting).
- Empowered a global workforce: With over 14,000 employees around the world, initiatives like this bring eBay employees together to make an impact, all through the click of a few buttons.
- Lasting impact: The 5 year partnership has, so far, directly impacted 23,244 borrowers (and counting) across 69 countries in 15 sectors.
- Entrepreneurial investment: $672,050 in total funding empowers entrepreneurs in vulnerable and marginalized groups to start small businesses and strengthen their communities.
- Local growth: Headquartered in San Jose, eBay has funded 247 small businesses in the South Bay area, driving more local sustainable economic growth in their area.
“We are so proud to partner with Kiva. This investment allows us to provide great opportunity to entrepreneurs around the world – while also connecting our employees to our purpose in a meaningful, energizing way.”Steve Wymer, eBay’s Chief Communications Officer and chair of eBay Foundation’s board of directors.
Who will you lend a hand to?
You can strengthen your brand and inspire customers while making an impact on Kiva.org through a matching loan fund. Corporate loan matching on Kiva increases the likelihood that individual lenders will make a loan to a given borrower. It also reduces the amount a borrower has to crowdfund on Kiva.org by half. Taken together, we see a ~4x increase in fundraising speed on Kiva.org and a greater chance of a borrower fully funding. As a direct result of your brand’s match to the cause of your choice on Kiva.org, together we can accelerate this virtuous cycle.
You can also strengthen your business and increase your impact by launching an employee engagement campaign. Employee engagement campaigns create loyal, productive, creative, and happy employees. You can build a more attractive company culture for prospective employees and improve retention simply by giving your employees the chance to contribute to a cause that your company cares about.