Can microloans fill the small business void that banks can't support?Kiva President Premal Shah will be tackling this question and others on the Gavin Newsom Show on Current TV tonight at 8 p.m. PST / 11 p.m. EST.
In this clip from tonight's interview, Premal talks about how small businesses in America are unable to find bank support for small loans. But, by leveraging the power of online communities, he says that these small businesses can find people who are willing to collectively provide the funds they need, often at much more lenient rates.
By opening up microloans to the masses, a surprising number of people are compelled to help out. Premal also points out the example of Kenyans lending small amounts of money to people in Oakland, California to help grow their businesses. The next plan: Taking on the huge problem of education debt around the world.
Here's another clip:
We hope you'll tune in tonight to learn more about Kiva, what we're doing to help small businesses everywhere get the help they need, and what we have in store for the future!