Vittana was a
non-governmental organization
A non-governmental organization (NGO) or non-governmental organisation (see spelling differences) is an organization that generally is formed independent from government. They are typically nonprofit entities, and many of them are active in ...
that allowed people to lend money via the Internet to students in the developing world.
[Rao. L. (2010). ''Vittana Applies The Kiva Model To Help Finance Education In Developing Countries''. Retrieved March 9, 2011, from https://techcrunch.com/2010/03/15/vittana-applies-the-kiva-model-to-help-finance-education-in-developing-countries/] It was a
501(c)(3)
A 501(c)(3) organization is a United States corporation, trust, unincorporated association or other type of organization exempt from federal income tax under section 501(c)(3) of Title 26 of the United States Code. It is one of the 29 types of ...
non-profit organization headquartered in
Seattle
Seattle ( ) is a seaport city on the West Coast of the United States. It is the seat of King County, Washington. With a 2020 population of 737,015, it is the largest city in both the state of Washington and the Pacific Northwest region o ...
. Vittana focused on student loans because student loans are nearly unavailable in developing countries.
[A. Villiani, Storytelling: Tall Tales On Online Platforms? Viewed on 11 Mar 2011, http://beyondprofit.com/storytelling-tall-tales-on-online-platforms/]
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.][''Vittana FAQ'' from http://www.vittana.org/about/faq]
The cash advance provided by a partner organization was covered when Kiva, or Vittana had aggregated sufficient money from donors.[''How it works''. (n.d.) Retrieved March 9, 2011, from http://www.vittana.org/howitworks] A mother or a close relative acted as a co-signer.
References
External links
Official website
Microfinance organizations
Non-profit organizations based in Seattle
Peer-to-peer charities
Peer-to-peer lending companies
Charities based in Washington (state)
Organizations established in 2008
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