Kiva Launches Online Microfinance in the United States
Website That Pioneered Online Microloans to Entrepreneurs in Developing Countries Now Brings Same Opportunity to U.S. Entrepreneurs in Partnership With Maria Shriver, First Lady of California
Beginning today on Kiva.org, through partnerships with local microfinance institutions ACCION USA and Opportunity Fund, individuals will be able to browse and lend to small businesses across the United States. Through Kiva's website (www.kiva.org), a loan of $25 can be made to support an entrepreneur, and the specific progress of the loan can be tracked, from initial funding to repayment. Upon receiving repayment, lenders can withdraw their funds or relend to another entrepreneur, thereby continuing the lending cycle.
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