Kiva.org has focused its work in forty-four impoverished nations, for the past three and a half years. But given the global recession, US banks have slowed its lending to small business owners. Therefore, Kiva announced yesterday that it will expand its online loan program to microentrepreneurs in the United States. The U.S. listings will start with about 45 businesses in Boston, New York, Miami, Atlanta and San Francisco.
Kiva’s mission is to connect people through lending for the sake of alleviating poverty. Kiva is the world’s first person-to-person micro-lending website, empowering individuals to lend directly to unique entrepreneurs around the globe.