LISC and Kiva are partnering together to expand financial opportunities for under-invested entrepreneurs across the United States.
Through Kiva, an online loan crowdfunding platform, start-up and established businesses can access 0% interest loans up to $10,000. Kiva loans are crowdfunded by people around the globe who lend as little as $25 to support small businesses—connecting entrepreneurs with customers, community, and capital. With a loan from Kiva, borrowers can finance new product lines, purchase equipment and inventory, upgrade technology, ramp up marketing, and much more!
How it works
LISC invests in Kiva Loan Match Fund
With the support of local funders, LISC raises grant dollars to deploy to Kiva borrowers.
LISC on boards local partners as Kiva “trustees”
LISC staff work alongside CDCs, incubators and technical assistance providers to become designated trustees who help small businesses apply for Kiva loans.
Borrowers apply for a loan with the endorsement of a designated LISC Trustee
By working with a designated LISC trustee, borrowers get one-on-one support throughout the application and crowdfunding process. Trustees endorse the borrower’s loan and enable the business to qualify for LISC’s 1:1 matching fund.
LISC match fund activates
LISC matches incremental loan amounts 1:1 as they are made to a Kiva borrower. For example, when an individual Kiva lender contributes $25 towards a Kiva campaign, LISC provides an additional $25 towards the loan goal. A borrower must be endorsed by a registered LISC Trustee and will need to reach the campaign goal in order to access the Kiva loan funds.
Impact
- By the Numbers
- Small Is Beautiful
- Crowdfunding + LISC Give Small Businesses a Big Boost
- LISC Teams Up with Wells Fargo to Spur Small Businesses in Puerto Rico
- A Match Made in (Carrot Cake) Heaven
- It Takes a Crowd to Raise a Small Business
