A Visit with Kiva Zip

One day you are sitting there and you have this great idea, the light bulb is shinning bright! You are excited, filled with thoughts about this fresh, original idea that is sure to take off. You get your business plan together, source all of your materials, and then you go to get a loan to get things off the ground. Declined.
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For Lunch Bunch we welcomed Shane Fahy ofKiva Zip into the clubhouse to tell us more about their services and how they can help small businesses and entrepreneurs get their idea funded. Kiva Zip is a part of the Kiva company that facilities global loan lending in developing countries. They have brought this model State side to help budding small business get the funding they need. Kiva Zip is a non-profit organization that is a merger between crowd-funding and micro-financing. They start off at $5,000 loans for a first time lender, but that can increase on further loans after your have successfully paid back the amount you have been lent. Since they began, Kiva has provided close to 1/2 a billion dollars to borrowers.

Kiva Zip is looking for small business owners with a strong business concept, but have been financially excluded or provide a positive social impact. Borrowers are able to apply for a loan upon a referral from a Trustee. A Trustee can be an organization or individual that on your be half can provide endorsement for your business and character. They often provide support (and cheerleading!) during your loan period. Kiva Zip is also looking for Trustees and lenders to support the swiftly growing small business sector. You can find a list of current Trustees here.

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As a borrower with a business you can create a profile page introducing your business to others. Lenders from around the world are able to access your story about your business through a profile on Kiva Zip’s website. They are often your potential costumers, business advisors, and band ambassadors that get behind you and rally for your idea. Usually hundreds of lenders contribute to a single cause with as little as $5!

For more information, visit their website, by checking out their presentation here, or by contacting Shane directly at shane.fahy@fellows.kiva.org.