UPDATE: Kiva Zip Loan has been repaid in full!
I am so thankful for the Kiva Zip program, which enabled me to receive a crowd funded loan to purchase a large air compressor for my studio! Many thanks to all the individuals who chose to support my business! I couldn't have done it without you.
About Kiva Zip
Kiva Zip is a program that enables you to make direct loans to entrepreneurs. Over time, as your loan is repaid, you get your money back, and you can then withdraw it, or re-lend it to another entrepreneur.
Kiva City Pittsburgh is an initiative by Kiva.org that brings crowdfunded microloans to small business owners and aspiring entrepreneurs in the Pittsburgh area via a unique online platform. Through Kiva City Pittsburgh, small businesses can crowdfund loans at 0% interest with no fees and civic-minded individuals can lend as little as $5 to collectively fill the lending gap for small businesses.
Kiva City Pittsburgh is supported by a growing coalition of Pittsburgh area nonprofits, businesses and foundations. Current trustees include Urban Innovation21, Pittsburgh Public Market, Lawrenceville Corporation, Christian Evangelistic Community Development (CEED), and many more. Support comes from PNC Foundation & PNC Charitable Trusts, the Richard King Mellon Foundation, and the Henry L. Hillman Foundation Opportunity Fund.
Together, we can help Pittsburghers to pursue a fulfilling career and income while helping our local economy. To learn more about Kiva City Pittsburgh or to lend to a Pittsburgh area borrower, visit www.kiva.org/Pittsburgh.
How does Kiva work?
Choose a borrower.
Browse loan descriptions, find a story you connect with, and lend $25 via paypal to pledge your support. You can make a loan today for as little as $5.
Follow your loan.
You'll get updates about the progress of your loan, including repayments.
Do it all again!
Kiva borrowers generally repay 98% of the time, while Zip borrowers repay 86% of the time. Repayments are yours to keep or re-lend.
When you lend in Pittsburgh you can make a difference in so many ways:
Support small businesses, which create 2 out of 3 new jobs in the U.S.
Small business owners and budding entrepreneurs are struggling to access the loans they need to get started and grow. They’re denied loans from conventional lenders for any number of reasons: the amount of money they need is too small, their business is too young, their plan is too innovative or their credit history is too short or damaged.
What they do have is passion, plans and people in their community that know and trust them. And now they have you!
Back employers who are likely to hire people of color, women and youth.
Jumpstart the local economy, strengthening schools, communities and social services that touch even more lives.
When small businesses do well, we all do well.