In this quarterly Capital Hub update we’ll share some of our accomplishments, a new video about the Kiva process, how entrepreneurs can build their credit through Kiva loans, and the stories of two entrepreneurs who finished their Kiva campaigns.
QUARTERLY UPDATE
Since the start of 2022, we have helped 66 entrepreneurs access a total of $658,000 in Kiva loans through Centro’s Kiva Hubs. We also helped 13 entrepreneurs access $80,000 in grants, as well as 5 entrepreneurs access $700,000 in larger small business loans with local CDFIs (Community Development Financial Institutions).
FIND OUT HOW TO GET A 0% INTEREST LOAN
We are excited to share our new Capital Hub video that explains the process of getting a 0% interest Kiva loan and how we can support you through the process:
Over the last three months, the Centro Capital Hub helped 15 entrepreneurs access a total of $162,000 in interest-free loans through Kiva.
BUILD CREDIT WITH KIVA
Kiva US has recently announced they are now introducing building credit to their platform.
If you are an entrepreneur with crowdfunding on Kiva.org, your loan profile will indicate that you will be building business credit with the help of this Kiva loan.
Commercial reporting has no restrictions on any type of business, but it is greatly important that you provide Kiva with your accurate business information, as this information is used to generate the credit report.
The following financial decisions are impacted by the information contained in my business credit report:
How much business credit a supplier will extend to you
What repayment terms you’ll receive
What interest rates you’ll pay
How much credit or funding a bank or lender will extend to you
How your customers view your business
BERNADETTE AND DANIEL ARE SET FOR SUCCESS AFTER GETTING THEIR KIVA LOAN!
Meet Bernadette and Daniel, two amazing entrepreneurs who received $9,500 and $15,000 Kiva loans to grow their businesses in the Bay Area:
BERNADETTE,
OWNER INA BOTANICALS & TEA
Bernadette is a daughter of immigrants from the Philippines who grew up in San Francisco. She’s the owner of INA Botanicals & Tea, an herbal and specialty tea company committed to supporting women's personal growth and wellness.
“I've studied herbs and blended teas for pleasure and individual wellness in the past few years. Last year, I launched INA Botanicals & Tea and learned more about how to develop the products, brand, and position their value. The next step is to grow and share herbs' supportive and delicious properties on a larger scale.” - Bernadette
This Kiva loan is helping Bernadette scale and become more available online and in stores. It provides funding for dried herbal ingredients and enables INA to hire a sales consultant to help get the product on store shelves, starting with the West Coast.
See Bernadette Kiva Campaign here.
DANIEL,
OWNER OASIS DESIGNS
Daniel is the founder of Oasis Design, a professional creative home design studio that promotes sustainable home development for the Bay Area communities, and graduated from Centro Basic Entrepreneurship program.
“I grew up in a family of creative craftsmen, mostly cabinet and furniture makers From my grandfather to my father and uncles, I always enjoyed watching them construct and create beautiful elements and admired their tenacity to run their own businesses. It was through my father’s creative thinking and hard work that we were able to migrate to the US, and I always worked with him in his construction business. ” - Daniel
This loan helped Daniel purchase technology equipment, implement and improve his marketing strategy, as well as the hire of personnel.
See Bernadette Kiva Campaign here.
Please let us know if you or someone you know is interested in accessing a Kiva loan or have any questions. Verónica Gutiérrez, Capital Access Manager: KivaUS@centrocommunity.org.