June 13, 2009

First Microfinance supports for U.S. from Kiva

Micro credit program is very popular in developing countries in the world. People are getting loans in very easy, without hassle. All them are working with present physically but it is out of thought that one who will lend money them did not see anytime. This is happening at this movement in the modern-digital age with the wish of Internet that grows connectivity with the people over the world. Now, it is possible to give many examples with the entrepreneurship of Internet based financing organization Kiva.org

Although it only works for the people of developing counties and the amounts of money is very low. It did not works for the people of U.S. but recently they have decided to finance for the small businessmen of U.S. who are not getting loan form the Banks during the recession.

Quote from BBC

"So we decided to start with the United States where 85% of businesses are small businesses and something like 10 million small businesses cannot get a loan from a bank right now because of the credit crisis," said Mr Shah

Kiva was situated in San Francisco, California, United States in 2005, a non-profitable organization initiated by Matt and Jessica Flannery who was inspired by a 2003 lecture given by Grameen Bank founder Muhammad Yunus at Stanford Business School.

I am giving lists of websites where you will able to know, in which methods Kiva can help any entrepreneur in the different countries and lender and borrowers are working. The information I got about the U.S. people who have applied for the financial supports are 36. Here arises a big question that the entrepreneurs of the developing counties can take loan of $25 but how much the U.S. entrepreneurs will get?

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