Kiva, a global nonprofit that provides crowdfunded loans to individuals and entrepreneurs, has received a $100k Her Village grant from Boundless Futures Foundation.
The funding aims to support women-led businesses across the U.S. that address social or environmental challenges.
The grant will be used to establish a revolving loan fund featured on the Kiva platform, specifically targeting female founders and social entrepreneurs. It will also finance a co-sponsored impact study to assess the societal benefits of female-led social enterprises. Additionally, Kiva and Boundless Futures Foundation plan to collaborate on strategic efforts to address systemic barriers faced by women founders.
Soon Hagerty, founder and president of Boundless Futures Foundation, said, “We restructured our Her Village grant for nonprofits so that it would have a larger impact on the complex issues female founders face and help address those systemic issues.
“We are looking forward to collaborating with Kiva on a more engaging, holistic approach to helping female founders overcome barriers to success and to scaling their social enterprises.”
Women-led social enterprises often struggle with funding, receiving just 2% of venture capital investments in the U.S, according to a report from Harvard Kennedy School
Vishal George, CEO of Kiva, added, “Women-led social enterprises are driving solutions to global challenges from climate change to economic inequality, yet they face persistent barriers to funding. Through our partnership with Boundless Futures Foundation, we’re excited to expand access to capital and advance research to further demonstrate the transformative impact of these incredible entrepreneurs.”
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