Craig Newmark`s microfinance gift to boost ACCION USA’s Kiva lending

Microfinance Focus Nov. 09, 2009: ACCION USA, a pioneer and leader in U.S. microfinance that provides critical capital and financial education to small businesses, has been awarded a gift by Craigslist founder Craig Newmark, to support its person-to-person microlending activities on the Website Kiva.org. Craigslist is a centralized network of online communities, featuring free online classified advertisements.
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.

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