At the end of September, the microfinance initiative Kiva Detroit announced it was launching Kiva Zip to allow Detroiters to lend directly to small-business entrepreneurs using digital tools like PayPal. Similar to the Kickstarter model, any resident can nominate a local entrepreneur for community support as well as contribute directly to a crowd-funded, interest-free loan. Lenders will also have the opportunity to interact and share ideas with entrepreneurs though online forums.
New Kiva Zip Program Lets Detroiters Lend Directly to Entrepreneurs
Tags business entrepreneurs, Entrepreneur, initiative, interest free loan, Kiva, loan lenders, model 2c, Small business, zip program