For Immediate Release
Is your small business struggling to get financing that could help it grow or improve profitability? Consider a 0%-interest crowd-sourced Kiva loan. Rural Action can help. If you are interested in learning more about the possibilities of Kiva funding with Rural Action, attend the Kiva Loan Webinar April 4 at 6:30 p.m. This is a virtual event so it is open to anyone in our region.
Green Edge Gardens, whose new owners needed funding to build an indoor microgreen facility, is one of the latest small businesses to work with Rural Action on a Kiva offering. Their request for a $7,000 loan was funded quickly, with Rural Action acting as the trustee on the loan, which means we vouch for a business after reviewing the request and relevant financials.
“Kiva is an option for a business that might not be ready to go to a bank for traditional investment,” says Paul Patton, Rural Action’s Social Enterprise Director. “This program gives them the opportunity to get access to funds at 0% interest.”
Rural Action is a Kiva Loan Trustee, and has endorsed 10 loans since 2018 that have been fully funded.
What does this mean? Loans endorsed by a Trustee have more credibility with lenders and tend to raise funds more quickly. Rural Actions endorsement will be visible on your fundraising page for potential lenders to see.
How does Rural Action assist borrowers?
- Rural Action staff assists with the application
- Reviews application
- Present the application to the Rural Action Social Enterprise committee
- Social Enterprise Committee approves application
- Rural Action endorses loan
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