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Kiva Matching Loan
Kiva Matching Loan Overview
Kiva U.S. is an international non-profit that enables financially excluded and socially impactful entrepreneurs to access 0% interest small business loans. These loans are crowdfunded by hundreds of lenders from around the world that read your story, lend you as little as $25 each, and rally around your business as potential customers, business advisers, and brand ambassadors.
HWCC is a Kiva Trustee. Kiva Trustees source entrepreneurs they believe in and publicly endorse them as borrowers on the Kiva website. Trustees have no financial liability for loans, but their reputation is tied to the repayment rate of the borrowers they endorse. Trustees also never actually handle the loans, which Kiva disburses directly to the borrowers.
Kiva Loan
Applicants can apply for a business loan up to $10,000, no interest charged, and also get free marketing through Kiva’s website/platform. The Kiva application process can be viewed below.
0% interest, Loans up to $10,000
Terms up to 2 years, grace periods are available for agriculture businesses
No credit score, collateral, business plan or financial statements required
Funded by hundreds of lenders from around the world, in increments of $25.
Buying equipment
Hiring employees
Marketing/Advertising
Space Remodeling/expansion
Refinancing debt
Purchasing inventory
Kiva Borrowers must be at least 18 years old
Business must be located in the United States
The loan is meant only for business use, not personal use
The borrower cannot currently be in bankruptcy or foreclosure
HWCC + Kiva Matching Loan Program
We are excited to be able to provide another lending route for our entrepreneurs and business owners. The Kiva Loan Program will help you focus on growing your business with their 0% interest rates. In addition, you’ll be able to build your business credit and have free marketing with the Kiva community! As a Trustee, HWCC will endorse and help you throughout the course of the loan.
When applicants apply for Kiva and are approved for a specific loan amount (for example, $10,000). HWCC is given the opportunity to endorse and match half of the targeted Kiva loan goal. This is called “matching funds”. Matching funds help to decrease the amount of time it takes a borrower to raise the full loan amount.
However, HWCC can only match half of the Kiva loan if the applicant completely raises half. If the applicant doesn’t raise half, then HWCC cannot provide a matching fund.
For example, John is trying to raise $10,000. He will have to raise $5,000 in order to turn on HWCC’s matching fund. Once John raises $5,000, HWCC will match the other $5,000 to get to him to his goal of $10,000. If John fails to raise $5,000, HWCC cannot provide a matching fund.
To Apply
To apply and learn more about the Kiva program visit their website www.kiva.org. If you have questions about the HWCC + Kiva Matching loan program or would like HWCC to endorse your Kiva campaign please contact HWCC’s staff, Yuli Her.
yuli@hmongchamber.org
(414) 645-8828
5421 N 118th Ct.
Milwaukee, WI 53225
