Kiva is a crowd-lending platform that provides 0% loans to small businesses through a platform of online lenders (local and global). WEDC initiated a 1:1 match for loans for downtown businesses that are women, minority or veteran-owned last year to expedite funding for these projects.
Effective Immediately, U.S. applicants for a Kiva loan will have access to the following:
- Expanded eligibility: More businesses will be eligible for a Kiva loan
- Larger loans: the maximum loan on the Kiva platform will increase from $10,000 to $15,000
- Grace period: applicants may receive a grace period of up to 6 months for greater financial flexibility
Directions/assistance in applying for the loans will be coming shortly. Please stay tuned to the kiva.org website for the most up-to-date information.