As of March 2016, Kiva Zip is pleased to announce that we will now be offering $10,000 loans to all small business owners, entrepreneurs, artisans and farmers throughout the United States.
Previously, $10,000 loans had only been available for repeat borrowers, or small business owners in restricted industries or regions.
Not only does this mean that Kiva Zip borrowers can access twice as much 0%-interest financial capital starting out, but due to the nature of Kiva Zip’s unique crowdlending model, larger loans will result in more social capital for the small business owners we serve. $10,000 loans will mean more lenders on each loan, and so more business advisors, brand ambassadors and customers for our borrowers. It’s twice as much money, but also twice as much marketing!
Every small business owner in America can apply for $10,000 starting out, although not every loan applicant will qualify for the full amount. Some borrowers will be asked to start out with smaller loans (e.g. $5,000, $2,500 or even $500), and prove their character and commitment over time, before graduating to larger Kiva Zip loans.
If you have any questions about this policy, we would love to hear from you: firstname.lastname@example.org.