HP Company Foundation commits to partnering with Kiva by giving each of HP's approximately 300,000 employees worldwide a $25 Kiva Card to make a loan to a borrower in one of the 70 countries where Kiva operates. The program will roll out with HP Company Foundation senior leadership sending an email to all HP employees, explaining the partnership with Kiva and giving them a $25 Kiva Card code. Employees will then have the opportunity to lend that $25 to a borrower of their choice on Kiva.org. Repayments will be made into a 5-year recycling loan fund via the Kiva Donor Advised Fund so employees can select new borrowers as loans are repaid. The HP Company Foundation will continue to offer new $25 Kiva Cards to HP employees every year for five years, enabling the employees to lend multiple times, impacting the lives of thousands of borrowers. At the end of the five year partnership, all future repayments will convert to a donation to Kiva Microfunds.
HP Company Foundation and Kiva will act as co-stewards of the program. Kiva contributes its existing infrastructure: the Kiva.org platform, the sourcing of borrowers through Kiva's Field Partners; and will provide top-level support for the program, marketing, as well as periodic impact reports to HP Company Foundation.
HP Company Foundation contributes the funding, internal marketing to maximize redemption rates, and employee-level support for the program. HP Company Foundation and Kiva will also work together to expand the partnership to introduce entrepreneurs who have participated in the HP Learning Initiative for Entrepreneurs (LIFE) Program to Kiva as a possible new source of capital to support their endeavors, as well as to introduce existing Kiva borrowers to the HP LIFE Program. This 'Phase Two' of the partnership may also include skills-based volunteering opportunities for HP employees to HP LIFE entrepreneurs/Kiva borrowers.
Q3 and Q4 Calendar Year 2013 - HP will identify regional HP Kiva Kaptains, who will host 30-minute kick-off parties on Launch day, where employees bring laptops and all redeem their codes together.
Q1 Calendar Year 2014 - HP Company Foundation senior leadership sends email to all approximately 300,000 HP employees, explaining the program, Kiva and giving a $25 Kiva Card code to each employee. HP Lending Leaders mobilize kick-offs parties, teleconference-ing into the launch at HP headquarters (or viewing a recorded video depending on the time zone).
Twice a year (at discretion of HP Company Foundation; could be more/less often) - Foundation sends update email to employees, summarizing the collective impact to date and showcasing some of the borrowers who have benefitted from the program.
Year Two of partnership - Potential Launch of HP LIFE integration
Every Q1 for 5 years (or at another time of year TBD by HP) - HP Company Foundation senior leadership communicates the collective impact to all HP employees, and offers them the opportunity to make another loan.
Approximately 2.5 billion adults in the world are unbanked or under-banked (World Bank). Millions of poor entrepreneurs and would-be entrepreneurs around the world struggle to access the capital they need to launch or grow their businesses, severely limiting their ability to improve their quality of life and that of their families.
In the last decade, the global movement to end poverty has gained momentum. Today, thanks to technology, an average individual is able to give a hand-up to someone across the globe, circumventing cultural, linguistic, social and economic barriers.