In 2009 AL-Thiqa became the second KIVA partner in Iraq, helping to extend the MFIï؟½s small loans to Iraqi entrepreneurs through KIVAï؟½s unique person-to-person micro-lending website, www.kiva.org
In 2009 Al Thiqa raised through KIVA $73,700 to refinance 29 small loans. The loans, which ranged from $1,800 to $3,000 each, helped finance various business activities including purchasing an oven for a bakery, computers and cell phones for an electronics store, sewing machine for a tailorï؟½s shop, inventory and small equipment for a mechanicï؟½s shop and supplies for a small manufacturer of windows and doors. These loans got financed by 67 to 106 investors each, some contributing as little as $25, the minimum loan size on KIVAï؟½s site!
KIVA is the world's first person-to-person micro-lending website, empowering individuals to lend to unique entrepreneurs around the globe. To do so, KIVA partners with existing microfinance institutions.
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