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Intuit and Kiva Work Together to Seed Small Business Growth Locally and Globally
MOUNTAIN VIEW, Calif. – Mar. 10, 2010 – Intuit Inc. (Nasdaq: INTU) and Kiva.org have helped millions of small businesses get up and running. Together, they are planting the seeds to fuel even more business growth with an aggressive matching program to raise money for small businesses in need.
As an extension of Intuit’s current Love a Local Business program, for every person who joins the Intuit Lending Team (http://www.kiva.org/team/intuit)and makes a Kiva loan within 30 days, Intuit will donate $10 to Kiva.org, up to $50,000. This contribution will be used to strengthen the Kiva micro-lending platform and leverage an estimated $500,000 more in small business loans from Kiva’s Internet community.
“We share a common goal with Kiva – to help small businesses succeed,” said Justin Kitch, chief growth officer of Intuit’s Small Business Group. “The past few years have been difficult for small businesses, so we are looking for ways to help them raise funds that give them the added help they need to continue to thrive.”
Kiva.org is the world’s first micro-lending website for the working poor, empowering individuals to lend to an entrepreneur across the globe. It creates a personal connection between lenders and small business recipients. Each entrepreneur has a profile page with a picture and description of their plans to use the loan.
“By creating a Kiva Lending Team for Intuit, we’re helping low-income entrepreneurs help themselves and providing Intuit team members the ability to follow the impact of their loans,” said Premal Shah, president of Kiva. “In just over four years, Kiva has made possible $120 million in micro-loans, bringing together more than 430,000 lenders and 300,000 entrepreneurs. Kiva is a perfect match for long-time small business advocate, Intuit.”
The matching program, which began March 1, will run through the end of May 2010. For more information, go to http://www.kiva.org/team/intuit.
- Intuit Small Business Blog: www.smallbusinessunitedblog.com
- Love A Local Business Website: http://Lovealocalbusiness.intuit.com
- Love A Local Business Press Release: http://about.intuit.com/about_intuit/press_room/press_release/articles/2010/IntuitRalliesCommunitiestoLoveLocal.html
About Intuit Inc.
Intuit Inc. is a leading provider of business and financial management solutions for small and mid-sized businesses; financial institutions, including banks and credit unions; consumers and accounting professionals. Its flagship products and services, including QuickBooks®, Quicken® and TurboTax®, simplify small business management and payroll processing, personal finance, and tax preparation and filing. ProSeries® and Lacerte® are Intuit's leading tax preparation offerings for professional accountants. The company’s financial institutions division, anchored by Digital Insight, provides on-demand banking services to help banks and credit unions serve businesses and consumers with innovative solutions.
Founded in 1983, Intuit had annual revenue of $3.1 billion in its fiscal year 2009. The company has approximately 7,800 employees with major offices in the United States, Canada, the United Kingdom, India and other locations. More information can be found at www.intuit.com.
Kiva.org is the world's first micro-lending website for the working poor, empowering individuals to lend to an entrepreneur across the globe. Founded in 2005, Kiva.org's mission is to connect people, through lending, to alleviate poverty. Over 430,000 people have loaned more than $120 million to 300,000 entrepreneurs in 52 countries. Currently, loans made through Kiva.org have a 98% repayment rate. Kiva.org is headquartered in San Francisco.
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