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Funder Spotlight: Pacific Premier Bank Invests in Small Businesses

Kiva Borrower Little Brass Cafe
Kiva Borrower Little Brass Cafe

At LISC, we know that small businesses sit at the heart of a thriving local economy. We also know that many small businesses have trouble accessing the capital and the resources they need to grow. This is especially true for both the micro-enterprises and minority-owned businesses that serve the low income communities in which we work.

A partnership between LISC and the crowdfunding platform Kiva, is trying to bridge that gap by connecting entrepreneurs across the county with the capital and know-how they need to succeed. The Kiva platform allows business owners to access 0% interest small business loans up to $10,000.

LISC’s matching program is unique in that it requires a borrower to have a “Kiva Trustee.” Trustees are LISC partners who endorse a borrower, increasing the micro-enterprise's credibility on the Kiva crowd network, leading to higher funding probability. They often also act as a local Kiva ambassador and provide the borrower with technical assistance and support throughout the loan process.

In 2018, LISC LA launched a local Accelerator Fund that matches Kiva loans dollar for dollar. This fund was supported by an investment from Pacific Premier Bank. Together, with over 2,400 lenders from around the world, 22 small businesses have received $182,000 in loans in LISC communities. Half of that capital-$91,000- was provided by the Accelerator Fund.

Matias, American Cleaning Company
Matias, American Cleaning Company

Through Kiva we helped Matias, owner of American Cleaning Company,  pay for marketing expenses to grow his business.  American Cleaning Company is a home-based business that provides house cleaning, office cleaning, commercial space cleaning, deep cleaning and carpet cleaning through out the Los Angeles County. Learn more about Matia's Story here.

"We’re proud to support LISC and provide funding that can be leveraged to increase capital and technical assistance available to small businesses. This allows small businesses to launch and grow their products and services, which strengthens the economies in our underserved communities."
— Sherri Scott, Senior Vice President, Chief CRA and Fair Banking Officer for Pacific Premier Bank

With partners like Pacific Premier Bank, LISC can commit to providing small businesses with access to the technical assistance and funding resources they need to launch and grow businesses, and stoke inclusive economies in the communities where we work.