I’ve blogged about KIVA.org and their ability to raise funds for international micro business and work at home business operations.
Now I see that Kiva is raising funds for US based entrepreneurs.
Would you be eligible to receive funding for your business plans?
Here are the Kiva partners funding such programs:
If you’re aware of Kiva, you know that interested individuals can donate funds that these “field partners” lend out to people to build a business. The field partners (unlike the for-profit banks) usually do entrepreneur and business training and coaching before lending money. They try, in other words, to make sure you can repay your loan.
In some parts of the world, “Groups” form and the loan is made to a group. The group then becomes responsible to pay back the whole loan. This, incidently, is how the Pilgrims had things. Until their debts for relocating to what is now the US were paid off, they as a group had to work together to repay the lender. Sort of the same principle. Everyone in the group becomes liable to everyone else’s debt.
Now just because the money is free through Kiva, it doesn’t mean you’ll have a low interest loan AT ALL.
ALL of these organizations take the “Free Money” and lend it out at the PRIME interest rate PLUS 3-5% to cover the cost of their operations.
That could mean that the cost of doing business with these firms is little different price wise than charging start up costs to a credit card – if that’s available to you.
Where these firms differ is that they should be providing personal coaching and other assistive services to help your business start, grow, and prosper where, of course, the credit card company simply doesn’t care.
Could these opportunities help you start your work at home business? Maybe so.
I’d like to hear your experience with them…
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