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KIVA Loan Application

The Peoples Food Coop (PFC), Edison Neighborhood Association, Kalamazoo Eastside Neighborhood Association, and SCORE Kalamazoo/SW Michigan have partnered with LISC and KIVA to provide access to crowdsourced borrowing opportunities for qualifying businesses in the Kalamazoo community. Each has its own criteria and a primary focus area they consider before giving their endorsement.

Their primary focus areas include:

  • SCORE is interested in endorsing businesses that support our goals for creating a sustainable businesses and job creation.
  • People’s Food Coop exists to create access for all to food that is healthy for people, land and the economy. To that end, we work to create opportunities for local food businesses to thrive in the marketplace and have positive social impact.
  • Edison Neighborhood Association is interested in supporting projects that have an impact on creating a more vibrant and active neighborhood.
  • Kalamazoo Eastside Neighborhood Association is interested in supporting projects that have an impact on creating a more vibrant and active neighborhood.

Any of the above endorsements, a sort of social underwriting, allows for a LISC 1-to-1 match on loans, reducing the challenge of becoming fully funded.

In response to the COVID-19 pandemic, Kiva US is offering small business applicants:
• Expanded loan sizes, now up to $15,000
• Grace Periods between 1-6 months
• Terms: zero interest, 24 months to repay on $5k loans, 36 months to repay on $15k

Until further notice, Kiva will be reducing the number of contributors required during the private fundraising period, which will help get projects onto the full Kiva platform for public crowdsourcing more quickly.

Here is a general outline of the program based on the status of the applicant business.

Kiva US loans for small business

• No online presence
• Pre-revenue business
• Limited local description
• Private Fundraising—5 lenders
• Term—12-18 months

• Basic online presence
• Operating less than 1 year
• Compelling story and loan description
• Private Fundraising—5-10 lenders
• Term—24 months

• Strong online presence
• Strong references
• More established business
• Private Fundraising—5-15 lenders
• Term—36 months

• A borrower’s starting loan range will be determined by:
• Debt-to-income ratio – the amount of monthly income that goes towards paying off monthly debt
• Proof of separate bank accounts for business and personal finances
• Government-issued business proof (local, state, or federal)
• Private Fundraising—5-30 lenders
• Term—36 months

Please click on the apply button, answer all questions, and your form will go to the endorsing organizations for consideration. Once staff members have reviewed, they will get back to you with any questions, and next steps.

Submit your information to apply for a KIVA endorsement.