3rd world microlender now offers help in USA.

[dixiegrrrrl]

Kiva, which offers micro loans to people and groups across the world,
is now providing small loans to people here.
( I donate to Kiva..it is an interesting experience)



Amanda Keppert is convinced that she would have lost Mandy’s Korner, her hot dog stand in San Jose, Calif., if she had not received a type of loan that is more common in the third world than in the United States.
But her loan applications were rejected repeatedly at banks in San Jose. Then she found Opportunity Fund, a local microlender that has teamed up with Kiva.org, one of the best-known international microlenders. Kiva, which has lent more than $150 million in 53 countries, had just begun a pilot program lending to business owners in the United States.

Through Kiva, Ms. Keppert obtained a $6,500 loan that she has three years to pay back and that carries a 6 percent interest rate. She used the money to buy an ice maker, a generator to save on propane costs and large signs to advertise her business.

More: http://www.nytimes.com/2010/07/29/business/smallbusiness/29sbiz.html?src=me&ref=business

[Warpy]

1. They've actually done that for more than a year

and I've made a few loans in this country as well as around the world. It's sickening that the SBA has been taken over by flunkies and cronies and all the microloans it should be guaranteeing have gone to only one or two companies in the area, year after year after year.

That's one of the government programs that needs to be swept clean of flunkies and started over.

[SteveM]

2. I agree. There is a big market, imo, for micro lenders in this country.

[dixiegrrrrl]

3. Damn...late to the party again.

I need to check in with Kiva. The next loan I make will be to USA
recipient, for sure.
Thanks for the update, Warpy.

[jtrockville]

4. Are you one of the 27 members of Kiva's DU team dixiegrrrrl ?

http://www.kiva.org/team/democratic_underground

So far our team has made 158 loans for a total of $4,450! I agree: what an interesting experience. Kiva is such a great site.

For many years now I haven't considered the US a "developed nation". There are too many instances of the US being the only "developed nation" that doesn't have _____ , or has the worst _____ rate of any "developed nation" (fill in the blank). How many exceptions do there have to be before we are no longer considered a "developed nation"?

[Crazy Dave]

7. I'd join but I use my real name on my Kiva account

Too many assholes on here would love to know who I am

[area51]

8. +1

It's fitting, sadly, to have microloans here, as we're not a civilized, first-world country.

[dixiegrrrrl]

9. No, I am not on the team. Rats.

To be honest, I made my loans over a year ago,as time passed and the budget got a bit leaner,
I have not added or changed them.
I WILL look for the DU team, tho.thanks.!!!

[jdp349]

5. Grameen bank is active in the US as well

[Crazy Dave]

6. Kiva is awesome, addicting too

You'd be surprised how fast you can click through $100