Kiva Greater Madison funds $100,000.00 in Microloans to Small Business in 2019
Wednesday, December 11, 2019 - 12:33pm
Christiana Greene of Prima Nail Spa was the recipient of Kiva Greater Madison’s 19th loan in
2019 marking $100,000 loaned to area small businesses this year.
Madison, WI - Kiva Greater Madison is celebrating lending $100,000 to local small
businesses in 2019. Launched on February 4th of this year, the initiative is a collaboration
of the City of Madison, The Wisconsin Women’s Business Initiative Corporation (WWBIC),
Madison Gas and Electric, The Doyenne Group and Kiva. Kiva provides loans to small
business owners who have historically not been able to access capital to grow or start a
business, a mission that aligns with WWBIC, who provides operational support to Kiva
“The City of Madison was excited to help launch the Kiva Greater Madison Program in 2019
because of the exact outcomes the program provided in 2019, getting financial resources to
businesses who have traditionally struggled in accessing financial assistance. We are even
more excited to see what 2020 brings!” said Michael Miller, Business Development
Specialist at City of Madison.
Kiva provides 0% interest no fee loans to small business owners. Loan amounts range
from $1,000.00 - $10,000.00 with up to 36 months repayment terms. Any small
business may apply for a Kiva loan however, our target market is women, people of
color, immigrants, veterans, and low to moderate income populations. In 2019 we
loaned $100,00.00 to 18 borrowers. Serving 61% women and 78% people of color.
"From start to finish, the staff at Kiva made the lending process easy to understand. The
lending platform gave me the opportunity to share my story and tell my lenders what my
business goals and objectives are. I would highly recommend Kiva to other individuals
seeking funding for their educational and business-related needs." Said Christiana Greene of
Prima Nail Spa & Salon in Sun Prairie.
Kiva.org is the world’s first and largest crowdfunding platform for social good with a
mission to connect people through lending to alleviate poverty. Since 2005, more than 3.4
million people turned their dreams into reality because 1.8 million people backed their
dream on Kiva. Together, more than $1 billion in loans have been crowdfunded, with a 97%
- Nichole Crust, (414) 610-8675, firstname.lastname@example.org