Kiva expands to US borrowers

I just saw a couple of U.S. borrowers on Kiva.  Here is one of them.

US borrowers are now on Kiva

US borrowers are now on Kiva

The loan amount is quite big compared to borrowers in the developing world ($10,000) but that’s why it’s much easier to fund loans in the developing world and would seem harder to implement in the U.S.  It looks like Kiva is working with Acción and The Opportunity Fund with more to come.

Though the venture looks quite positive – this lender was more than halfway to her goal when I first saw her profile a couple of days ago.   Now it looks like her loan is fully funded.

I do think people like the idea of funding people locally as well as abroad.

Exciting that Kiva’s peer to peer internet lending movement has spread to the U.S.!  I’m interested to see if the delinquency and late payment rates will be similar to other Kiva loans.

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One response to this post.

  1. See this post on the Kiva Fellows blog.
    http://fellowsblog.kiva.org/2009/06/20/pissed-off-kiva-lenders/#more-5201

    Interesting discussion about how to determine who is more deserving of loans. I think giving lenders a choice and potentially expanding the pool of borrowers is a good thing.

    I’m not sure this is the case anymore, but I remember at one time Kiva had a hard time keeping up with the number of people who wanted to lend.

    When I interviewed several small business owners in my neighborhood for my Kiva Fellows application, I found that some used creative financing (friends, family, the past business owner) to build their businesses because they couldn’t get traditional loans.

    Since banks are not functioning properly and people are cautious to invest in the equities market, why not allow people to choose to help their neighbors if they want?

    Reply

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