Kiva Introduces Domestic Initiative
During the last few years, I have watched in fascination as innovative Kiva, the first peer-to-peer international micro lending organization has blossomed into a social networking phenomenon. Three years ago, I even doodled with a business plan that would create a peer-to-peer lending site for both domestic and international faith ventures. But the obstacles seemed too great when you focus on such a specific niche. And besides Kiva was already doing such a great job helping faith organizations even though it was a secular nonprofit. Last week, I was excited to hear that Kiva had introduced a domestic initiative. You can now visit www.Kiva.org and view domestic entrepreneurs from the Opportunity Fund and Accion . Like with the international lending program, interested investors build a portfolio from a selection of active entrepreneurs needing financial support. Funds are invested in the businesses that the individual selects. When the entrepreneur repays the loan, the investo...