Funding

Small Business Funding Resources

KIVAAndrea is excited to be a Trustee for Kiva Detroit, a 0% interest, crowdfunded microloan focused on character rather than credit. KIVA helps micro and small businesses access to capital to grow their business.

As of December 2013, over 49 metro Detroit loans have been completed totaling $206,650! 

DABI supported $7,300 worth of disbursed funds to the following borrowers;

* Playground Detroit in their quest to secure funding for their new website, 

* William + Bonnie for their small business needs, 

* Scarlet Crane Creations for their manufacturing.

and I can help you fund your business too! 

A bit about KIVA:

There are three principle aims of the Kiva Zip program:

1. Expanding access to capital  Kiva Zip supports entrepreneurs who would not qualify for conventional loans.

2. Lowering the cost of capital Kiva Zip offers 0% interest loans by leveraging technology to streamline the application process, and loan disbursals and repayments.

3. Connecting entrepreneurs with a global community. Loans are funded by a network of over one million individual lenders on the Kiva Zip website, connecting entrepreneurs with supporters who can be potential brand ambassadors, customers or mentors.

How does it work?

Entrepreneurs that meet the minimum requirements can apply for a 0% loan from $500-$5,000. After their application gets reviewed by a Kiva Zip fellow, borrowers will enter into private fundraising period where they will invite 20-35 family, friends, customers, and community members to be their first lenders. The loan will then go public on the Kiva Zip website where any lender around the world can support their business. Once their funding goal is met, the funds will be disbursed and repayment will begin a month later. Borrowers can come back and receive a second loan for up to $10,000.

Who qualifies for a Kiva Zip loan?

Kiva Zip requires that all borrowers meet all of the following minimum requirements:

      *Be over the age of 18

      *Have a PayPal account or have the ability to set one up

      *Are not currently in bankruptcy, foreclosure or under any liens

       *Borrowers’ businesses must not be engaged in any of the following activities:
            -Multi-level marketing / direct sales
            -Illegal activities (e.g. gambling)
            -Pure financial investing (e.g. stocks)

Because Kiva Zip focuses heavily on the character and reputation of the entrepreneur, Kiva Zip builds partnerships with organizations and individuals that have a strong professional relationship with the borrower.  Because of this, any DABI member that completes either the Mind Your Art Business Growth Course in Michigan, ONLINE or works with me through private coaching are eligible to have Andrea become a Trustee for their loan.

To discuss this incredible opportunity, email Andrea.