San Francisco News
Shriver talks about the importance of microfinancing
SAN FRANCISCO (KGO) -- California's first lady, Maria Shriver talked about how you can help a small, local business, with a small loan through the Internet. It's called "microfinancing."
She spoke at a conference of 700 people in San Francisco, with the president of Kiva Premal Shah. Kiva connects entrepreneurs overseas through the internet, with lenders offering as little as $25.
Shriver convinced Kiva to implement the same idea in America. On Thursday, she announced a $300,000 commitment from her women's conference program.
"The "We Invest" program which is one of the five or six programs of the women's conference supports, really looks to help women get on their feet, start their own businesses, teach them what they need to know about starting a business and financial empowerment," Shriver said.
The Kiva/ "We Invest" partnership with the opportunity fund and Accion U.S.A. raised $850,000 in less than a year to help entrepreneurs in 14 states.
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