For the 2nd year, PayPal is designating the month of May as PayPal Small Business Month, taking the full month to celebrate, empower and educate entrepreneurs across the country. Making financial services accessible to all is a key part of PayPal’s mission as a company and a central part of achieving that goal is helping the underserved. PayPal Small Business Month brings this mission to life by engaging with underserved entrepreneurs.
Imagine turning a $25 loan into more than $21 million, impacting more than 1 million people globally, in just five years. No, this isn’t the latest Shark Tank pitch. It is the outcome of Hewlett Packard Company’s Matter to a Million employee-engagement program.
Company completes the second year of its five-year partnership between the eBay Foundation and Kiva
The eBay Foundation provides every eBay employee with an annual $25 Kiva loan credit to create economic opportunity for small and micro entrepreneurs around the world. Since 2017, over 23,000 Kiva entrepreneurs have benefitted from more than $600,000 in loans made by eBay employees.
With an average of five people per household in developing countries, where many of these loans are made, the number of family members indirectly impacted to date through this program is over 92,000.
Small businesses play a critical role in the global economy. Entrepreneurs create jobs and foster healthy local economies, which leads to a more vibrant national economy. They contribute to local causes, have relationships with their neighbors and are the foundation of the community. We also recognize that not all small businesses have the same issues or dynamics. Some work 9-to-5 while others operate outside traditional business hours.
This article was originally published to the World Economic Forum's Agenda Blog
Small businesses play a critical role in the global economy, contributing to economic opportunity, diversity and the overall health of our communities. If current trends continue, however, we may soon wake up in a world where many of these businesses have closed and only a few of the very largest players remain open.
eBay launches Kiva Marketplace to help aspiring entrepreneurs reach global scale
by Lauren Mobertz
Since the company’s founding, eBay has been committed to enabling everyone to participate – and benefit – from global commerce. This year, eBay is continuing to widen the opportunities available to small business owners and aspiring entrepreneurs, leveraging the global reach and technical capabilities of our marketplace. To this end, we are partnering with microlending platform Kiva.org to launch Kiva Marketplace on eBay.
At PayPal, we believe every person has the right to participate in today’s global economy. Kiva is an international nonprofit that allows people to lend money to low-income entrepreneurs and students in over 80 countries and is an important partner in this mission. A few weeks ago, we launched our Kiva campaign: “Make A Small Loan, Make a Big Impact,” to our employees and customers around the globe to encourage them to make loans to entrepreneurs.