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Press release distributed in partnership with ... 
Arbita Funds 500 Micro-Loans through Kiva.org
Program Provides Capital to Entrepreneurs in the Developing World
Minneapolis, MN (PRWEB) November 25, 2008 -- Arbita, a provider of recruitment marketing technology, media and services, funded 500 micro-loans in 2008 for entrepreneurs in the developing world. Loans were made by Arbita through Kiva.org, a person-to-person micro-lending website that aims to alleviate poverty by connecting individual lenders with borrowers in 41 developing countries. Arbita invests 1% of revenue annually in micro loans through Kiva.
"We want Arbita to be a force for good in the world," said Jennifer Marcy, General Manager, Arbita. "We see ourselves as a participant in a global value chain. As we create value for our clients, the revenue we generate affords us opportunities to invest in other people around the world who are also working hard to create value for themselves and for their communities. The Kiva program is wonderful because we get to witness the transformative power that entrepreneurialism can have on a community. It just keeps paying forward."
Kiva works by empowering lenders to make micro-loans directly to borrowers through their web site, Kiva.org. Lenders like Aribta browse profiles of entrepreneurs on the site and make loans using a PayPal account or a credit card. Kiva then coordinates with microfinance partners around the world to distribute the funds directly to entrepreneurs. Often, these partners also provide training and other assistance to maximize the entrepreneur's chances of success. Over time, the entrepreneur repays their loan. Kiva reported a 12-month repayment rate of 98% in November, which is 4.04 percentage points lower than U.S. credit card default rates according to the Federal Reserve Board. When lenders get their money back, they can re-lend to someone else in need, donate their funds to Kiva (to cover operational expenses), or withdraw their funds.
In 2008, Arbita hand-picked 500 loans to fund on the Kiva website. The company plans to reinvest all repaid funds in new Kiva micro-loans.
"Working with Kiva has been a very rewarding experience and we look forward to making more loans in 2009 and beyond," said Ms. Marcy. "For other companies looking for opportunities to share their resources in an impactful way, I strongly recommend working with Kiva.org."
More information about Kiva can be found at www.Kiva.org.
About Kiva.org:
Kiva.org (www.kiva.org) is the world's first person-to-person micro-lending website, empowering individuals to lend directly to an entrepreneur in the developing world. Founded in 2005, Kiva.org's mission is to connect people, through lending, to alleviate poverty. Kiva.org currently connects lenders in more than 100 countries with entrepreneurs in 41 developing countries, through 88 microfinance partners. Kiva.org is headquartered in San Francisco.
About Arbita:
Since 1993, Arbita has been connecting companies like General Dynamics, eBay, Pfizer and Cox Communications with the best talent on the Internet, all over the world. Our recruitment marketing technology, media and services have been developed with the belief that every client deserves a partner with their best interests at heart. Arbita is based in Minneapolis, MN and on the Web at www.arbita.net.
This press release was distributed through eMediawire by Human Resources Marketer (HR Marketer: www.HRmarketer.com) on behalf of the company listed above.
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