Province KIVA Fund Turns 2 Years Old
A project of Br. Maxime Villeneuve, OSA, the Province of St. Augustine in California KIVA Fund today marked two years of making loans through the micro-financing website Kiva.org. Begun in October 2015 with funding from The St. Augustine Foundation, Br. Max remarked that, "The fund was an idea to support those who lacked access to credit in countries where the Augustinians served throughout the world. To date, the fund has made 121 loans of $25 or more in 13 different countries. I am proud to operate the fund and share in the many good works of our province." The fund replenishes itself as creditors pay back their loans, and with the money that is paid back, more loans are made. With the initial investment of $1,000, over $3,000 of loans have been made over the last two years, providing access to credit to those who would otherwise be shut out of the market.