Wednesday, November 08, 2006

Microloans expand online

Remember the online, auction based small loan program, Prosper? Here's the new non-profit version of online microloans, Kiva. While the Gameen Bank works in Bangladesh, Kiva focuses at the moment on South and Central America and western Africa.
Kiva partners with existing microfinance institutions. In doing so, we gain access to outstanding entrepreneurs from impoverished communities world-wide. Our partners are experts in choosing qualified borrowers. That said, they are usually short on funds. Through, our partners upload their borrower profiles directly to the site so you can lend to them.
Thanks to Anthony Cerminaro of BizzBangBuzz for noting this new venture.

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