This alliance between Centro and Kiva US is a new initiative to support the entrepreneurial ecosystem in Oakland. With the new Kiva Hub, entrepreneurs and organizations will have a single point of contact to help them access interest-free microloans.
What is Kiva US?
With a $10,000 Kiva loan, Reem was able to buy a utility truck and hire staff to grow my business, eventually opening her first location in Oakland’s Fruitvale District.
Kiva US is an online crowdfunding platform that provides entrepreneurs with 0% interest loans of up to $10,000. To qualify for a loan, applicants must be over 18 years old, not currently in bankruptcy, have a business located in the US, and the loan must be used for business purposes.
After the success of its international model, Kiva recognized the need to support local entrepreneurs in the United States and started the Kiva US program in 2011. Since then, Kiva US has provided over $3.5 million to 6,076 people throughout the country, including nearly $3.4 million to over 700 borrowers in Oakland.
What is Kiva Hub?
A local connection that guides borrowers and trustees through the Kiva process by providing on the ground support and personalized assistance.
Luis received a $10,000 Kiva loan to help purchase a commercial ice-cream maker for his new location, allowing to produce more ice-cream, more efficiently and hire local people from the community.
Kiva Hubs are local organizations committed to the success of small business owners that agree to take responsibility for Kiva’s loan activity in a specific region. These organizations hire a Kiva-trained Capital Access Manager to guide borrowers through the loan process and assist the organizations (Trustees) supporting them with access to Kiva loans. Centro is honored to have been selected as the Kiva Hub for Oakland. In the near future, we will be supporting borrowers and their Trustees for all of Alameda County, as well as participants in all of the programs we provide.
What does this mean for local entrepreneurs and organizations?
We are excited to welcome Verónica Gutiérrez to join Centro as our Capital Access Manager. She will serve as the main point of contact for all borrowers looking for Kiva loans, as well as organizations looking to provide their communities with access to capital within Alameda County. With a Capital Access Manager on hand, Centro will ensure that borrowers and organizations have a positive and successful experience with Kiva.
Entrepreneurs
Read more about the eligibility requirements and application process on Kiva’s website. Please let us know if you’re interested in accessing a Kiva loan or have any questions.
Organizations
Learn more about becoming a Trustee on Kiva’s website. Please let us know if you would like to join as a Kiva Trustee or have any questions.
We’re here for you, so please reach out to us:
Verónica Gutiérrez, Capital Access Manager: KivaUS@centrocommunity.org
We understand that capital access is a permanent challenge for entrepreneurs. For this reason, we want to be a welcoming option to support and build successful businesses in Oakland. Be part of this initiative!