Wednesday, November 10, 2010
Nonprofits Lend to Gulf Coast Businesses - BusinessWeek: "Mary's Floor World is one of the first Gulf Coast businesses to have obtained loan funding through Kiva.org, a microlender that pairs individuals who make interest-free loans with entrepreneurs across the globe. Founded in San Francisco in 2005, Kiva opened a pilot program in the U.S. a year ago. Since its domestic launch, the nonprofit says it has facilitated more than $1 million in loans to American small businesses. Globally, Kiva says, more than 487,000 individuals have gone through the site to extend credit to some 428,000 entrepreneurs in 54 countries."