WCA Leadership Summit Session 4: Jessica Jackley

Jessica JackleyJessica Jackley is co-founder of Kiva.org, the world’s first peer-to-peer online micro-lending website. Kiva.org allows internet users to lend as little as $25 to entrepreneurs in the developing world, providing affordable capital to start or expand a small business. In just three years Kiva has helped raise over $61 million and connected thousands of people across 120 countries. A graduate of the Stanford Graduate School of Business, Jackley’s work has been featured on The Oprah Winfrey Show and the Today Show. She brings a fresh perspective on the personal nature of giving and how new generation leaders can innovate through technology.

Notes to follow…

  • Her family had their own leadership summits  and had themes for the year
  • 2 things learned early on… 1) Jesus said the poor would always be with us, 2) What you do for the least of these you do for me.
  • Didn’t know what her specific role would be for a long time.
  • Micro-finance – financial services for the poor.
  • 5 years ago quit her job and went to Africa to learn about micro-finance and how a load of $100 could change a person’s life.
  • Institutional banks will not load to many people because they lack collateral.
  • As she interviewed people in Africa, she found every story was special.
  • Example of an early loan… Rice farmers in Uganda needed money to buy a truck so they could transport their product to other markets. Cost $2,000.
  • Lenders in 185 countries. Just every day people.
  • Profiles on their website of people who would like a micro-loan.
  • (Are entrepreneurs screened? How do poor people without internet access post a profile?)
  • 100% of the money goes to the person.
  • Average loan size is $600
  • Average lender lends $100
  • Repayment rate is about 98.5%
  • Lives are being changed. Parents have money to buy clothes for school. Families getting better living conditions, nutrition. Can be a better host by offering sugar with their tea.
  • Yesterday Jessica did a load from her iPhone in less than a minute.
  • Kiva.com launched in March 2005. Went back to Uganda, took pics of 7 entrepreneur.  Loaned $500k first year, up to $85m last year.
  • (If all the money loaned goes to the entrepreneurs, how is Kiva itself financed? Through some of the interest paid on the loan?)
  • Value of trust goes throughout the organization and beyond.
  • Believe that people want to do good.
  • iPhone ap was designed by a volunteer, not staff.
  • When you believe in the value of co-creation, you have to be willing to release some control.
  • Keep focus by going back to the mission statement: to connect people through lending to alleviate poverty.
  • If a company comes to them wanting to give large amounts of money but not be personally involved, they will turn them down, including one offer of $10m
  • Common purpose is the best way to predict outcomes in an unpredictable environment.
  • Innovation and entrepreneurship should be present in the church. Should be the safest place on the planet to come out with the biggest dreams and ideas.
  • Great poets don’t tell, they show. I don’t tell people they should give sacrificially, I show them.
  • You can talk about wanting to do something, but once you actually do something everything changes. Don’t be afraid to start small. Just start.
  • The secret to changing the world is a change of mindset.
  • When we truly believe in the possibility of one another, all the rest is logistics.
  • Kiva is now facilitating loans in the U.S. now.

Awesome stuff! Really impressed with what Jessica Jackley and Kiva.org are doing.

2 Responses to “WCA Leadership Summit Session 4: Jessica Jackley”

  1. Great notes – my laptop ATE mine at the Summit! I’m linking back to here on a blog post for our church in case folks want to check these out!

    If you’re interested, it’s at http://www.powhatancommunitychurch.blogspot.com...

    ~blessings~

Trackbacks/Pingbacks

  1. Kiva - No Small Thing | PCC - November 15, 2013

    […] Guest post by Beth Brawley Those of us at the Leadership Summit last week had the privilege of hearing Jessica Jackley share an incredible and inspiring story. When Jessica learned that Jesus said, “What you do for the least of these, you do for me”, she took it seriously. Five years ago, she quit her job and went to Africa to learn about micro-finance. The result is Kiva, which has raised over $61 million in just three years – all going to assist entrepenuers in the developing world. Investors with as little as $25 are able to connect with across the globe, giving sacrifically in order to change lives all around the world. On a personal note, my family has been involved with Kiva since last year. As we gathered at Thanksgiving, my mom gave everyone in the family a $20 bill and a mission: “Use this to help somebody else – and report back at Christmas.” The Brawley family pooled some of our funds together and created a $50 loan to a group of mothers in Bolivia who are creating small retail businesses to provide a better life for their children. That loan has already been repaid, and our $50 has been re-invested into two businesses in the Dominican Republic. Kiva is a way for anyone with internet access to invest as little as $25 to better the lives of people who have far less access to financial stability than any of us here. Brian often says that even the poorest American is considered rich in the eyes of the developing world – and it’s true. One look at some of the photos of these hard-working entrepenuers in third-world countries show that although our resources are different, we are the same in our desire to work hard and provide a better life for our families. Several folks who were at the Leadership Summit have already set up Kiva accounts and started a new journey of giving. In fact, we’ve created a ‘Powhatan Community Church’ lending team that will allow us to track how we, as a small community of believers, are able to pool our resources to assist those in other countries. Through our lending team, it’s possible to focus our giving on one group, country or region. Please take the time to investigate Kiva and consider participating. Seriously – what we do for the least of these, we do for Jesus. And that’s no small thing. To learn more about Kiva, click here. To see the Powhatan Community Church lending team, click here. To create a Kiva account, click here. For overview notes on Jessica Jackley’s Summit presentation, click here. […]

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