PayPal and Kiva Renew Long-Term Partnership to Support Global Microloans
PayPal (Nasdaq: PYPL) and the crowdfunding nonprofit Kiva have announced a five-year renewal of their partnership, which has spanned over two decades. PayPal provides the underlying technology that powers all lending activity on the Kiva platform, ensuring that 100% of lent funds are directed toward entrepreneurs in more than 80 countries. The collaboration has facilitated over $2.6 billion in loans through more than 9 million transactions, supported by a global network of two million lenders. This renewal aligns with PayPal's broader corporate social responsibility goals, specifically its new 2030 objective to provide resources and training to 25 million people and small businesses to foster digital economy participation.
Tickers: $PYPL
Topics: Corporate Social Responsibility Fintech Lending Technology Microfinance