ACCION USA, a pioneer and recognized leader in U.S. microfinance, has been awarded a gift by Craigslist founder Craig Newmark, to support its person-to-person microlending activities on the Website Kiva.org.
New York, NY (PRWEB) November 9 , 2009 -- ACCION USA, a pioneer and recognized leader in U.S. microfinance, has been awarded a gift by Craigslist founder Craig Newmark, to support its person-to-person microlending activities on the Website Kiva.org.
Best known for founding the online community Craigslist, Mr. Newmark is a strong supporter of microfinance internationally. "ACCION USA's work in providing microfinance to small business owners here in the United States is commendable," said Mr. Newmark. "As a business owner myself, I understand that access to loans to grow a business is critical. I am proud to support ACCION USA's Kiva lending program."
According to Gina Harman, president and CEO at ACCION USA, the funds will help the organization continue its partnership with Kiva.org, a Website that connects entrepreneurs in need of business capital worldwide with individuals who make loans in $25 increments. Launched in June 2009, the partnership marked the first time that people could lend to entrepreneurs in the U.S. via the Kiva.org platform.
"Partnering with Kiva.org is a way for ACCION USA to raise both lending capital and the awareness of microloan services in the United States," said Ms. Harman. "We are thankful that Mr. Newmark chose this time of unprecedented economic challenge to support our efforts in making capital accessible to U.S. business owners."
Mr. Newmark joins a growing list of high-profile entrepreneurs who have made investments in ACCION USA's microfinance lending program, including clothing designer Tory Burch, author Cheryl Saban, and craft-brewer Jim Koch, founder of the Boston Beer Company and Samuel Adams.
About ACCION USA
ACCION USA is a leading U.S. microfinance organization that provides access to capital and financial education to low- and moderate-income individuals, primarily minorities and women. A pioneer and recognized leader in U.S. microfinance, ACCION USA empowers individuals to create sustainable businesses, increase family incomes, and contribute to the economic development of cities across the U.S. Since inception in 1991, ACCION USA has provided over $118 million in small business loans ranging from $500 to $50,000, offered nationwide via the ACCION USA online lending platform. For more information about small business loans, visit www.accionusa.org
About Kiva.org:
Kiva.org is the world's first micro-lending website for the working poor, empowering individuals to lend to an entrepreneur across the globe. Founded in 2005, Kiva.org's mission is to connect people, through lending, to alleviate poverty. Over 585,000 people have loaned more than $100 million to 249,000 entrepreneurs in 49 countries. Currently, loans made through Kiva.org have a 98% repayment rate. Kiva.org is headquartered in San Francisco.
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