Kiva Brings Life-Changing Loans to the U.S.
Meet Kiva.org's new American entrepreneurs and find out how you can make a loan.
June 10, 2009— -- If you want to make a difference in the U.S., giving a micro-loan might be one of the most effective methods.
Micro-loans are made from one individual to another, and the Web site Kiva.org is dedicated to facilitating those kinds of loans around the world. The nonprofit company, founded in 2005 and based in San Francisco, Calif., connects individual borrowers or "entrepreneurs" with lenders who make direct loans of as little as $25.
To date, more than half-a-million lenders from 185 countries have provided more than $75 million in loans, according to Kiva. Remarkably, the current rate of repayment of those loans is 98.35 percent.
Now Kiva is bringing its successful model to the U.S., where the economic downturn has led to a need for the same kind of funding Kiva has made possible across the globe.
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ACCION USA and the Opportunity Fund provided information for the entrepreneur profiles.
