Asked by Alijah Muhammad on Feb 18, 2024
Verified
Kiva's innovation in microlending was to allow anyone to loan small amounts of money to entrepreneurs in developing countries.
Entrepreneur
An individual or a group who creates something new—a new idea, a new item or product, a new institution, a new market, a new set of possibilities.
- Recognizing the importance of financial inclusion and how it can empower individuals and communities.
- Exploring the potential of technology and online platforms in facilitating microlending and connecting lenders with borrowers.
- Understanding the concept of microlending and its significance in supporting entrepreneurs in developing countries.
Verified Answer
AG
Adarsh Goyal
Feb 18, 2024
Final Answer :
True
Explanation :
This statement is true. Kiva's platform allows individuals to lend as little as $25 to entrepreneurs in countries where traditional banking systems may not be easily accessible.
Learning Objectives
- Recognizing the importance of financial inclusion and how it can empower individuals and communities.
- Exploring the potential of technology and online platforms in facilitating microlending and connecting lenders with borrowers.
- Understanding the concept of microlending and its significance in supporting entrepreneurs in developing countries.
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