 | |
| Founded | 2008 |
|---|---|
| Founder | Kushal Chakrabarti Brett Witt |
| Defunct | 2014 |
| Focus | Education |
| Location |
|
| Area served | Worldwide |
| Method | Microcredit |
| Website | www.vittana.org (formally, now a personal finance blog) |
Vittana was a non-governmental organization that allowed people to lend money via the Internet to students in the developing world. It was a 501(c)(3) non-profit organization headquartered in Seattle. Vittana focused on student loans because student loans are nearly unavailable in developing countries.
The loans issued by Vittana ranged from $200 to $1,500 and were funded by individual lenders through Kiva's lending platform and Vittana's funds. Students were given cash advances for educational expenses before money from donors had been collected.
The cash advance provided by a partner organization was covered when Kiva, or Vittana had aggregated sufficient money from donors. A mother or a close relative acted as a co-signer. The recipient of the loan could repay the loan after landing a job. Vittana students had a 98% repayment rate.
Vittana ceased operations in 2014.
References
- ^ Rao, Leena (2010-03-15). "Vittana Applies The Kiva Model To Help Finance Education In Developing Countries". TechCrunch. Retrieved 2024-04-09.
- "About". Retrieved 2024-04-09.
- ^ A. Villiani, Storytelling: Tall Tales On Online Platforms? Viewed on 11 Mar 2011, http://beyondprofit.com/storytelling-tall-tales-on-online-platforms/
- Vittana FAQ from http://www.vittana.org/about/faq
- ^ How it works. (n.d.) Retrieved March 9, 2011, from http://www.vittana.org/howitworks
- Soper, Taylor (29 August 2014). "Educational microloan non-profit Vittana shutting down". GeekWire. Retrieved 23 February 2016.
External links
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