As part of our continuing efforts to support your business during this uncertain time, we are dedicated to continuing to share with you policy updates, resources, and business tips to help during uncertain times. While no individual measure will provide a perfect solution, we hope to provide you with tools to help in the process.
What is a Kiva Loan?
Kiva is an online crowdfunding program that provides 0% interest loans to entrepreneurs and start-up businesses.
How Does a Kiva Loan Work?
What makes Kiva loans different from most traditional loans is that, after the borrower applies, they facilitate a private fundraising period in which friends and family lend as little as $25 each. After that, the application is posted online for a public fundraising period.
Kiva Loan Eligibility
A Kiva borrower must:
• Be at least 18 years old
• Use the loan for a legal business
• Not currently be in bankruptcy or foreclosure
• Not currently be in a business involved in multilevel marketing
What do Kiva Lenders Look for?
Kiva reviews a variety of factors, including:
• Personal and business finances
• Online presence
• Character references
• Photo quality
• Loan narrative quality
• Credit score (low credit scores will not prevent you from receiving a Kiva Loan)
What Changes Have Been Made to Kiva Loans During COVID-19?
In response to the COVID-19 pandemic, Kiva US is offering small business applicants
expanded loan sizes - now up to $15,000
grace periods up to 6 months
. Please find an announcement about Kiva US product changes
. An FAQ regarding the product changes can be found
- To apply: kiva.org/borrow
- For help: kivaushub.org/application
- Contact: email@example.com