Community Rallies to Fund Loan for Hop Farm
Partner Investment Opportunity
Morning Dew Hop Farm in Meigs County is growing one of the key ingredients of a great brew. When they wanted to put those hops to work, they sought a $15,000 loan on Kiva to buy equipment for a craft nano-brewery.
Kiva is a platform for crowdfunding loans and unlocking capital for groups that are underserved by traditional financial institutions. Lenders sign up for Kiva, where they can look for loan requests they’d like to help fund. But before Kiva makes loans available to its entire network, it requires the borrower to get loans from 20 people, ensuring a level of support from friends and family before the request is entered into the wider network for the rest of the funding.
Morning Dew not only received loans from the initial 20 lenders, it raised ALL of the $15,000 it had sought for the equipment. Congratulations, Morning Dew!
Rural Action works to help small businesses in myriad ways, from introducing them to opportunities like Kiva to providing help navigating the grant process for COVID-19 assistance. For more information about our work with businesses, or if you’re interested in applying for a loan through Kiva, contact Rural Action Social Enterprise Director Paul Patton.