Kiva’s micro equity loans help here in LA


You may be familiar with Kiva, an organization that helps small businesses around the world through a practice called micro-finance. Basically, you give a small loan to a global entrepreneur, track their progress, and get paid back. Now Kiva is launching in Los Angeles.

Called Kiva City LA, the organization will use matching funds from the Diller-von Furstenberg Family Foundation and loan funds to support local small businesses. More from Kiva:

Kiva City LA is working to expand access to financial services for small business owners who have the dream and the potential, but are excluded from traditional business loans. For these businesses, microcredit through Kiva City can act as a gateway, providing a business credit history and working capital to start up, expand operations, and hire or retain employees. Kiva City LA is a partnership with the Valley Economic Development Center, the Mayor’s Office of Small Business, Kiva and Visa.

A loan to Kiva can be as small as $ 25. Kiva City loan programs are currently operating in New Orleans and Detroit. If you want to make a loan, you can do so from the Kiva City LA site, and if you are a small business owner who wants to apply for a loan, you can apply through VEDC.

h / t LA Observed

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