Kiva – Loans that change lives

Something we’re trying that I wanted to share. Kiva let’s you lend to a specific entrepreneur in the developing world – empowering them to lift themselves out of poverty. You also have the option to connect with other lenders and make an impact as a team. We’re in the early stages of this process and will update our progress here.

Mrs. Sokvun Vong has been a silk weaver since she was thirteen years old. Her husband has been a mason for three years. In August 2008, she asked for a loan of $100 to purchase silk materials for her weaving business. Read more.

Update:

Kiva expands to U.S. borrowers
A Kenyan Internet entrepreneur is planning to make her first loan — to an American she’s never met. She’s doing it through the online micro lending Web site Kiva.org, which grew famous serving the developing world and is now expanding to include the working poor in the U.S.

Recognizing that poverty is everywhere, Kiva is starting to offer loans to U.S. borrowers today, a plan that has been in the works for some time. It’s testing the waters to see how the service is used and whether it will help Americans in the midst of a credit crunch find ways to fund small businesses such as beauty salons, nurseries and bakeries.

CEO Matt Flannery mentioned the idea when he talked with me about the evolution of Kiva in a recent interview here. More than 500,000 people have used Kiva to make a total of $76 million in small loans to entrepreneurs featured on the site.

NYC as the East Coast’s Hub of Entrepreneurship

I’ll be attending Entrepreneur Week, organized by the NYC Entrepreneurial Community. NYC ENT was created to strengthen and accelerate the collective entrepreneurial spirit of New York City through a week long series of events. NYC ENT aggregates disparate organizations, institutional investors, universities, and early-stage ventures throughout the City, providing a platform which fosters innovation, growth and ultimately creates jobs.

At the center of the week’s events is a 21 team business plan competition with a full day of customized training developed exclusively for NYC ENT. Selected companies will receive educational workshops throughout the week focusing on topics that are traditionally difficult for entrepreneurs to master. The goal is to coach early-stage companies on the key success factors that allow ideas to launch effectively, so all NYC’s entrepreneurs can learn, found and grow companies, solidifying NYC as the East Coast’s hub of Entrepreneurship.