Kiva a micro-loan lender known for providing small loans to developing nations, has decided to open its program to the US population.

The idea came about because of the recession we’re in and the mission of Kiva has always been to help those in need. There’s no doubt that there is greater need in other countries, since the US (even with our recession) is considered one of the wealthiest nations on the planet.

And because of our relative wealth and financial standing compared to other nations, there has been opposition to bringing the micro-loan program to the US. However despite the negative comments, Kiva is planning to help out “its own” and bring tiny loans to small businesses and individuals who need working capital, equipment, etc.

Loans will not exceed $10,000 and they’re capping all loans in the US to a total of $800,000 but surely this will help out quite a number of folks who can’t get credit anywhere else.

I’m 100% for Kiva coming to the US and helping in any way they can, let’s just hope that the monies are disbursed intelligently and to deserving borrowers.

via Small Business Trends