During assembly on Wednesday, January 11, leaders of the JBS chapter of KIVA briefed the student body on the organization and Burroughs' involvement.
KIVA is an international non-profit which was established in 2005 to allow people to lend money via the Internet to low-income entrepreneurs. To date, 1.6 million lenders have loaned $927 million to 2.3 million entrepreneurs in more than 80 countries. KIVA visits prospective borrowers and creates web profiles for those who qualify. Potential lenders can select who they want to support and make loans in $25 increments. The historical repayment rate is 97 percent. When a loan is repaid, the lender can be reimbursed, make a loan to another entrepreneur or donate directly to KIVA.
The Burroughs KIVA chapter, which is one of KIVA's top 10 lenders, was established in 2008. Since then, the club has raised more than $23,000 which it has loaned to almost 7,000 entrepreneurs in 49 countries ... for a total of nearly $178,000. During assembly, the student leaders began by showing a KIVA video, and ended by engaging assembly in making the next JBS loan.