What is Kiva US and Can It Help Entrepreneurs in the United States Crowdfund and Match Loans?
Kiva supports entrepreneurs in the U.S. with zero-fee, interest-free loans for your business. These loans are crowdfunded by lenders all over the world and are paid back over the course of a couple of months to a few years. Kiva Zip loans can be as large as $10,000!
Rather than assessing credit history and financial statements, Kiva US (formerly Kiva Zip) relies on your trust networks as a measure of creditworthiness.
For that reason, applicants are required to secure a trustee or their initial lenders from within their own network prior to fundraising on the Kiva Zip website.
Read Kiva Zip’s 2015 Annual Review, a lookback at their accomplishments like crowdfunding $4.7M of 0% interest loans to 811 small business owners throughout the United States, most of whom were ethnic minorities, and most of whom were women.
If you’d like to develop and insider’s understanding of how Kiva Zip works, read the captivating story of a Kiva Zip borrower, Christian Lazlo of Detroit, MI. (LAZLO, 1401 VERMONT, DETROIT, MI 48216, USA INFO@LAZLO.CO)
A culmination of years studying prison policy, tragic global events highlighting abuse in the garment industry and a knack for fashion, Christian created a sustainable fashion line that supports and employs formerly incarcerated people. Business is going great, Christian is paying back his first Kiva loan toward launching LAZLO ahead of schedule and looking for a second loan to continue growing and hiring out of Detroit’s prison sewing program.
Checkout LAZLO on Instagram.