WASHINGTON, Oct. 8, 2013 (GLOBE NEWSWIRE) -- TechAmerica, the leading U.S. technology association, is pleased to announce that Kiva.org will be honored with the inaugural Socially Conscious Innovator award for demonstrating the power technology has for positive change. Kiva will be honored at the David Packard Medal of Achievement and Innovator Awards, November 7, 2013 in Menlo Park, CA.
Kiva is the world's first and largest crowdfunding platform for social good. Kiva's community of 998,000 lenders crowdfund more than $2.5 million in loans per week, in $25 increments. These small dollar individual loans have helped more than 1 million low-income borrowers start and grow businesses, go to school, improve their homes, buy clean energy products, and more. Through Kiva, anyone with an internet connection can make a loan as little as $25 to the borrower of their choice on Kiva.org. And with Kiva's repayment rate of 98.9 percent, lenders are able to relend their money again and again, or withdraw it from the system.
"We are all aware of the power of technology to create change, to disrupt but the power of technology to connect people and create change is profound. Kiva has been the trailblazer in harnessing the power of the innate goodness of people, tying it to technology and delivering positive change around the globe," said Shawn Osborne, President & CEO of TechAmerica. "We couldn't think of anyone better to recognize with our inaugural Socially Conscious award."
Kiva leverages the power of collective good and new technologies to push the boundaries of economic opportunity in unique ways. With the philosophy of empowering people around the world, even in the most remote areas, Kiva is providing safe, affordable access to capital. Since its founding in 2005, Kiva lenders have loaned over $480 million in 72 different countries.
"When we are surrounded by problems bigger than any one of us, it can be easy to forget the power each of us have," said Matt Flannery, co-founder and CEO of Kiva. "Every day, Kiva lenders prove that people are by nature generous and, if given the means to do so, will lend their support and engage as global citizens. Technology has allowed us to harness that power of good and deliver life changing support to all corners of the globe."
"We are proud to accept this award on behalf of the nearly one million Kiva lenders who are creating change around the world," concluded Mr. Flannery.
Kiva works with upwards of 224 microfinance institutions on five continents to provide loans to people without access to traditional banking systems. One hundred percent of the loan is sent to these microfinance institutions who administer the loans in the field.
This year's David Packard Medal of Achievement Award winner is Lowell McAdam, Chairman and Chief Executive Officer (CEO) of Verizon.
For additional information on the awards, please click here.
About TechAmerica
TechAmerica is the leading association for the U.S. technology industry – the driving force behind productivity growth and job creation in the United States and the foundation of the global innovation economy. Representing premiere technology companies of all sizes, we are the industry's only trade association dedicated to advocating for the ICT sector before decision makers at the state, federal and international levels of government. With offices in Washington, D.C., Silicon Valley, Brussels and Beijing, as well as regional offices around the U.S., we deliver our members top-tier business intelligence and networking opportunities on a global scale. We are committed to expanding market opportunities and driving the competitiveness of the U.S. technology industry around the world. Learn more about TechAmerica at www.techamerica.org.