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I wrote a post over two years ago (actually on the eve of FeedBurner’s sale to Google) where I discussed the need for microlending in the U.S. and the issues that U.S. microlending initiatives faced.  I also provided an idea for a possible solution that involved a “Kiva-like” site where organizations could find individuals to contribute to U.S. based microfinance loans.

I had almost forgotten about that post but was reminded of it when I received a comment on it a couple of days ago from Sam at Accion USA.  It turns out that Accion USA and Kiva recently partnered to allow Kiva users to fund U.S. based microloans. I am very excited about this news.  The Accion/Kiva partnership will create more opportunities for microentrepreneurs in the U.S. and it will certainly help us to start gathering the data needed to see if microlending in the U.S. is feasible over the long term.

Sam’s comment was incredible and worthy of a blog post on its own.  I suggest you read it in full if you have a chance.  For those that are short on time I will summarize Sam’s comment below.

• A lot of the concerns I stated in my original post have been addressed over the last two years.
• Microentrepreneurs overseas are limited by scale (this is a problem I am well aware of) but microentrepreneurs here are not since there is more credit available in the U.S. – via standard banks and other institutions – to help microentreprenurs to continue to scale their businesses.
• Microentrepreneurs in the “first” world are more likely to occupy niche industries where they fill gaps in local markets. In contrast, microentrepreneurs in the third world often find themselves in the position of being the main source of income for a community.
• Credit cards are not necessarily direct competition to U.S. microlenders.
• U.S. microloan rates are competitive with private sector loans.
• The greatest struggle for U.S. microlenders will be the fight to achieve sustainability (right now they are dependent on donations).

If you are interested in learning more about Accion USA’s U.S. microlending programs please check out AccionUSA.org or follow Accion USA on twitter (@Accion_USA). You should also check out Kiva.org if you are interested in making your first microloan. For more more general microfinance information you should check out #mifimon (Microfinance Monday) on twitter to follow the real-time microfinance conversation and get insight from experts around the world.

I am excited to see how microfinance develops here at home and to continue to think about how it will evolve and achieve sustainability. Congrats to Accion and Kiva for taking a big step toward a thriving U.S. microfinance sector.