LinkedIn Exec Wants Help Investing $1 Mil
March 25, 2012 by staff
LinkedIn Exec Wants Help Investing $1 Mil, The LinkedIn co-founder is lending $1 million to struggling entrepreneurs around the world and you can help decide who gets it.
Want to lend money to a struggling entrepreneur in a developing nation without using any of your money? I did, and for a little while longer, you can too.
Here’s how. Recently LinkedIn co-founder Reid Hoffman put up $1 million to fund 40,000 individual $25 dollar loans through the microlending platform Kiva.
“The most successful ventures depend on that initial spark from angel investors,” Hoffman says. “Kiva’s model gives us all the ability to connect and make change possible for entrepreneurs around the world who have opportunity but lack capital.”
According to Premal Shah, Kiva president, in 2011 Kiva lenders funded nearly 125,000 loans totaling $90 million, with the average loan funded in just over 5 days.
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