Aid to business startups: Kiva’s microfinancing for the masses

Going back to the article I wrote about starting a small business, third point. Startups can really benefit from outside help.

Kiva, a San Francisco-based startup has created a way for small-lenders to network together to reach a wider audience. Here’s what Computerworld wrote about Kiva’s work:

Kiva’s approach is straightforward. Entrepreneurs working with established local microfinancing institutions, or MFIs, put their business plans, financing needs and photos on Kiva’s Web site. Investors from the U.S. and other affluent countries visit Kiva.org, choose which entrepreneurs to back and then finance the loans.

My take? It’s great knowing that non-profit organizations such as Kiva is trying to bridge the world together. Startups from all over the world could definitely benefit from a lending network rather than just dealing with lending firms all by themselves. At least, here’s an organized network that builds both credibility for lenders and confidence and security for the startup. Good news, indeed!