First online microfinance platform
November 6th, 2009
I stumbled over an interesting student start up called KIVA.
This is a person-to-person micro lending online platform.
It has created great transperancy for the lenders to choose whom they wish to lend money. The website provides list of entrepreneurs all over the world, description of their business and loan amount they need.
Once the loan is made the lender can track the progress of the entrepreneur. He will receive his money back over time and can re-lend to the entrepreneurs on the website.
This starts from a small amount of $25 (~Rs.1000). Each $25 goes to a larger loan which helps the entrepreneurs in the developing economies to grow and establish their businesses. All the money crunch a developing economy experiences will be wiped out with this concept. It is very exciting for the entrepreneurs as well as the lenders.
This entry was posted on Friday, November 6th, 2009 at 8:29 pm and is filed under Inspiring Entrepreneurs, Social Entrepreneurship. You can follow any responses to this entry through the RSS 2.0 feed. You can skip to the end and leave a response. Pinging is currently not allowed.
