Help Women-Owned Businesses Access Affordable Financial Capital
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To celebrate National Women’s Small Business Month, Kiva provides 0% interest loans to small businesses and entrepreneurs
100% of donations will be pooled into a fund that supports women-owned small businesses and early stage entrepreneurs in the United States.
Kiva.org and Women-Owned Business Fund
In today’s difficult circumstances, Kiva is stepping into its role in equitable small business recovery by distributing risk-tolerant capital – capital that is often the difference between a business shutting down and keeping their doors open. Kiva’s 0% interest, $1,000-$15,000 loans are uniquely designed to provide funding opportunities for entrepreneurs when conventional lenders won’t. Here is a snapshot of Kiva’s U.S. borrowers:
- 68% are entrepreneurs of color
- 63% are female entrepreneurs
- 36% are businesses in their first year of operations
- 23% are immigrants
- 71% of business owners either have a credit score below 650 or don’t know their score.
Cinthya grew up in Redwood City in a household with traditional Mexican values. For her, that meant community, love, and hard work. Seeing the way her parents constantly pushed themselves and made moves to get ahead definitely influenced her desire to be an entrepreneur.
With a loan, Cinthya is buying products from a women’s weaving cooperative in Guatemala. She needs at least 2 of each product in order to have stock for the eCommerce platform that she is creating. Each product is between $10 to $50 and will total $1,000. With these products, she will be able to hold enough stock to evaluate what the market enjoys most. This loan will offer the women jobs and ensure that they are paid immediately upon finishing the products. This will allow them to offer financial support to their families.