Start or expand business with micro loan

Sun, 13 Mar 2011 06:43:58 +0100

Microloan is a financial innovation in the web. This is a new platform to connect lenders and micro-entrepreneurs. The extension of very small loans (microloans) to those who are in need encourages entrepreneurship.

The people with no collateral, lack of employment and not able to meet the minimal qualifications to get traditional loan from the banks, but they are interested to start small business or want to develop the existing business can apply for microloan.

Kiva is one of the popular microloan providers. Actually, Kiva helps people to get their loan amount by raising funds from interested people (lenders). Kiva is creating a global community of people connected through lending.

Kiva's worldwide Field partners are processing the loan application through the local source. The applicants have to go through an interview process to get approved. Kiva’s Field partners do this.

After this, Kiva will start raising fund by providing the applicant's profile in their website. In addition, Kiva sends money to requester after raising the full amount. Requesters have to make their repayment as per schedule.

Other sites:

unitus,

microplace

mico-loan

Start or expand business with micro loan