Kiva
 Through our Kiva project we distribute loans through Kiva.org a non-profit organization that offers individuals and organizations like ours the opportunity to provide funding to microentrepreneurs around the world through an online database. With the assistance of Honorary MCP Board Member Dr. Muhammad Yunus and UST President Dr. Robert Ivany, the program was officially launched and our first loan was given in January 2007 (see picture).
To date the UST Kiva Project has distributed more than $11,750 in loans with an initial investment of $5,000. View the UST MCP profile page.
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MCP KIVA Loan Summary (2007-2009)
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Africa
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$5,525 |
46 |
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Asia
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$2,700 |
46 |
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Eastern Europe
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$1,525 |
28 |
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Latin America
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$3,125 |
56 |
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Middle East
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$575 |
24 |
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TOTAL
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$11,250 |
200 |
Requirements for loan administration:
Field Partner Criteria:
- Delinquency rate is below 15% or has a default rate below 5%
- Exhibit a high level of transparency and consistency in both its financial and social service.
- Does not charge excessive interest rates (avg. rate depends on country /region)
- Does not engage in social programs that are not in line with the social teachings of the Catholic Church.
Individual Borrower Criteria:
- Proposed business ventures should be feasible, meet the Catholic standards, and promote sustainable development
- Should work with an approved field partner
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