Kiva Microloan Program
At Kiva, we believe in character over credit and the power of community-based lending.
We provide crowd-funding opportunities for entrepreneurs where conventional lenders won’t: Loans that change lives
Established in 2005 as the world’s first personal micro-lending website, Kiva enables everyday people to pool lending contributions as little as $25 to provide financial access to entrepreneurs in developing communities across the globe. Since its beginning, serving loans to a handful of fishmongers in eastern Uganda, Kiva has grown to enable over 1.7M lenders worldwide to lend a combined $1.2B to more than 2.6M entrepreneurs in 89 countries around the world.
Kiva has been able to reach this global scale while still maintaining a 97% repayment rate. Kiva’s success has garnered worldwide recognition and accolades. In 2008, Kiva was named a TIME magazine Top 50 website. In 2011, The Economist honored Kiva with their Innovation Award.
What can Kiva offer you, the borrower?
At Kiva you can qualify for a loan between $1,000-$15,000, with no interest! Seriously. Whether you’re in the idea phase, start-up mode, or an established business, you can apply. And the money can go towards any business purpose: working capital, equipment, inventory, marketing, or project-based investments. Whatever will help your business.
Flexible repayment plans
Everyone’s business repayment abilities are different. When you apply, you can choose what works for you. Kiva repayment terms are anywhere from 6 months to 3 years, and repayments are made monthly. You can choose if you would prefer to pay off the loan faster or, alternatively, have a lower monthly payment. And if you are doing well and want to pay off your loan ahead of time, you can do that, too!
No minimum credit score
Kiva does not grant loans based on credit scores or history. In fact, we never reject an entrepreneur because of their credit, net worth, or years in business. Instead, while we do look at your financials, we prioritize your character, the impact your loan will have on your community, and how much support you have from your community. This is shown by proving to us that you have a network of people who believe in you and your business and are willing to back you (vouch for you, in a way).
When your loan is posted to the Kiva site, it becomes visible to our network of 2.1M lenders worldwide. The exposure can get you new customers interested in your business and in buying from you or using your services! There is also the possibility that we’ll spotlight your business on our blog or social media, making your business visible to even more potential customers!
Access to Kiva Resources
Kiva US has been around for 12 years, and in that time we’ve learned a lot. We offer applicants and borrowers alike many lots of resources, tips, and previous borrower experiences on a range of topics. Check them out at the Kiva US Borrower Resource Center.
Access to the Kiva Network
Access to the Kiva network also means the possibility of working with a Trustee or a Capital Access Manager (CAM).
Learn more about our Trustees
Learn more about our CAMs
Erie Kiva Hub Capital Access Manager: