Pres. Clinton announces program that uses global online community for microloans
LITTLE ROCK (KATV) - Former President Clinton has long supported small business owners but Friday he announced a modern way to lend a hand and make it easier for others to do the same.
Friday afternoon Clinton launched Kiva City Little Rock, an initiative that makes obtaining microloans for small business owners much easier. The program focuses on entrepreneurs based in Little Rock but like many of Clinton's initiatives it also has a global aspect to it. The main goal is to connect business owners to an online global community where anyone with and Internet connection and 25 dollars or more can help.
"We cannot rebuild this economy and the world we're living in without a funding source that makes sense and so this is a very big deal today," said Clinton.
Clinton said the program, which is solely based on donation from people around the world, is also dependent on trust.
"people can vouch for other people and when someone vouches for you your sense of obligation to repay the loan goes through the roof," said Clinton.
The web site for people to donate was unveiled Friday as well. If you would like to lend a hand you can go online to Kiva.org/littlerock.