San Francisco, CA, August 06, 2011 --(PR.com
)-- Accountants for Social Good (ASG) today saw a single-day increase of over ten thousand dollars ($10,000) to its lending club through Kiva. It is the largest single-day increase in lending in the group's history.
"It's exciting," said Justin Curzi, the group's founder. "We are so happy that the Certified Public Accountant (CPA), accounting, tax, and enrolled agent industry would band together so strongly to look outward at the world and want to make such an impact. I think people realize that giving loans to people in developing countries not only gives them access to capital they would otherwise not have, but also does it in a dignified and prideful manner where these lendees can build a sustainable business for themselves."
Lending money and supplies to friends, family and community members predates formalized financial institutions, but in its modern form today, social lending is a by-product of internet technologies, especially Web 2.0. The term Web 2.0 refers to online sites that allow users to interact and directly communicate with each other. Some examples of Web 2.0 include social networking sites, blogs, wikis, and video sharing sites.
Although many institutions use person-to-person lending to make a profit, there are nonprofit institutions that use social lending as way for individuals to help others around the world in need, without having to directly give money. Kiva LLC is currently one of the largest nonprofit institution, that utilizes social lending as their method to reach out and help those in need worldwide.
Accountants for Social Good utilizes Kiva as the conduit to finance these loans to developing countries. Currently, ASG is the TOP rated business for the month of August as shown via http://www.kiva.org/community?category=Businesses and consistently ranks in the top 5 every month in new loans for the past year. Please visit http://www.kiva.org/team/accountants_for_social_good if you would like to get involved with this great team.