The Inevitable Anti-U.S. Backlash Has Started On Kiva
When we reported on Kiva.org’s decision to open up its micro-lending platform to U.S. entrepreneurs, Kiva CEO Premal Shah told us he was concerned about backlash in the community. Shah acknowledged that the decision to open lending to U.S. recipients may draw criticism because it goes against the idea on which Kiva was founded—lending to help development in third world countries where credit options are limited. It looks like Shah’s prediction was correct. There is now a lending team on Kiva’s community platform titled “Unhappy Kiva Lenders.” The members, which total 375 lenders from around the world, are angry that Kiva is extending loans to U.S. entrepreneurs. The team’s page states that “including borrowers from the USA has undermined the very core of what made [Kiva] so unique and special; small, impactful contributions to entrepreneurs in impoverished situations in developing countries.” The tirade on the page is harsh, calling the decision “shameful and disgraceful” and a deviation from Kiva’s core mission. The group cites an example of a recent Kiva…
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