Here is a story I saw on ABC News this morning and the link to the story at: http://abcnews.go.com/Business/Economy/story?id=7791831&page=1. If you are looking for a way to fund your project this may be the way to go! If you are looking for a way to help entrepreneurs this is a great opportunity to do so.
Kiva Brings Life-Changing Loans to the U.S.
Meet the American Entrepreneurs Seeking Micro-Loans and Find Out How to Lend
By KATIE ESCHERICH
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.
To read the entire article and see some of the people that are requesting loans go to: http://abcnews.go.com/Business/Economy/story?id=7791831&page=1