The pioneers of peer-to-peer online micro-lending have now reached out to offer micro-loans small businesses in the US.
Just a few months after adding student loans to its service, Kiva is now partnering with Visa to help it deliver new micro-loans to small business owners in the US. The partnership aims to make small businesses aware of microfinance and also create more features and support for these businesses in America within its peer-to-peer lending platform. Visa has already pledged $1 million to help Kiva with operations and disbursing of these micro-loans.
Kiva started with facilitating micropayment loans between lenders and low-income entrepreneurs from developing countries, and last year extended its service to needy entrepreneurs in the US too.