Want to Fund Your Small Business? Learn More About Kiva Zip on Nov. 13
When you're starting (or running) a small business, funding is critical--yet it's not always easy to secure. Enter Kiva Zip, an online loan crowdfunding platform that enables entrepreneurs to access interest-free microloans up to $5,000 initially. Borrowers repay the loans over a two-year period. And unlike banks and other traditional lenders, Kiva Zip uses a borrower's character and trust network to evaluate creditworthiness, providing an avenue for underserved entrepreneurs to access capital. Before loans are posted publically to Kiva's crowd of more than 60,000 lenders, borrowers must first demonstrate they have the support of approximately 20 friends, family members and customers willing to vouch for their business in the form of a $25 loan. This initial group of lenders forms the first layer of social underwriting; the second layer comes from individuals and organizations serving as trustees, including Downtown Shareholders and Paul Tyler with Arts KC. Interested in learning more about Kiva Zip and how it works? Join us for our next "In the Know" luncheon, to be held from 11:30 a.m. to 1 p.m. Friday, Nov. 13, at the Hilton Garden Inn (520 Minnesota Ave., KCK). We've assembled a panel of speakers including Chuck Schlittler with Downtown Shareholders; Ed Linnebur with Greater Kansas City LISC; and Jay Matlack with Wyandotte Economic Development Council to share more details about Kiva Zip, how Downtown Shareholders is involved and why small businesses are so critical to the economic development of downtown KCK.
Lunch is $20 and is payable via cash or check at the door. Please RSVP to Chuck Schlittler at director at downtownkck dot org by Wednesday, Nov. 11, to secure your spot. We hope you can join us!
Image via Greater Kansas City LISC