KIVA ZIP @ Building Business in The Bronx Roundtable: Feb 12 2013
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http://www.kiva.org/live Watch all loans as they happen live online!
description
Sharing the Uniqueness of KIVA Zip (Zip.kiva.org) to the Quarterly Bronx Small Business Roundtable - jointly held every quarter by the White House Business Council, the U.S. General Services Administration, the U.S. Small Business Administration, and Start Small Think Big.
Transcript of KIVA ZIP @ Building Business in The Bronx Roundtable: Feb 12 2013
http://www.kiva.org/live
Watch all loans as they happen live online!
972,016 entrepreneurs funded since 2005
1.3mil registered lenders
In 2012 alone, US$150 mil crowd-funded loans
US$1mil every 2.5 days!
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10 minutes, 3 Things
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0% interest loan product funded
entirely via online crowdfunding
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Small starter loans up to $5,000 designed for low
income and/or financially excluded entrepreneurs
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Or ...“Getting ordinary folks to fund loans to those businesses no
banks will lend to.”
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Completely new model of microlending specifically addressing needs of US micro-entrepreneurs
Kiva Zip: reinventing small biz borrowing
Kiva Zip: reinventing small biz borrowing
Kiva Zip: reinventing small biz borrowing
Kiva Zip: reinventing small biz borrowing
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Trust =
Character + Competence
Kiva Zip “Trustees” and why they matter
In the Kiva Zip model of character-based lending, “Trustees” - organizations or individuals that work closely with small entrepreneurs - are absolutely crucial.
Trustees are those entrusted to recommend the most trustworthy small businesses for crowds to lend to:-
Identify eligible and deserving borrowers for 0% interest loan
Publicly endorse them on the Kiva Zip website
Support the borrower in their business (advice, mentorship, incubator space, networking)
Trustees have no financial risk if a borrower they endorse does not repay, but their reputation is tied to borrowers’ performance.
How ZIP works: example of Victor, SF
Lenders can also check out his Yelp
profile
Repaid 10 months on time
Victor engages his lenders with the “conversations”
feature
Now applying for a second ZIP
loan of $10,000
Created 5 new part-time
jobs
What’s in it for trustees?
Empower Clients
If you already work with financially excluded clients (unproven startups, or low credit score entrepreneurs)...
Kiva Zip will give the clients you endorse access to 0% business loans they would otherwise not qualify for
Promote what you
do
If you already do great work in your community that largely goes unrecognized or unpromoted...
being a Kiva Zip trustee automatically allows you to promote your work (in your own words) to >1 mil socially-conscious Kiva lenders everywhere. Also participate in Kiva PR initiatives.
Increase Impact,
Help Fundraise
If your organization’s potential funders care about tangible impact (businesses helped, $$ generated, jobs created)...
Kiva Zip helps you help more small businesses take off, faster. Endorsing a deserving borrower online takes 15min. Reducing time and cost for raising capital means you can impact more.
1.4mil, 20% Unemployment
Zero Entrepreneurs taking advantage of 0% Zip loans
Great local community programs stimulating entrepreneurship
We’d like to change that, and soon! [email protected]
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10 minutes, 3 Things
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0% interest loan product funded
entirely via online crowdfunding
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Small starter loans up to $5,000 designed for low
income and/or financially excluded entrepreneurs
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Together: we can get work together to finance good businesses no
banks will lend to.
And finally....If I haven’t run out of time
Play Video: “Crowdfunding Small Business - 1 small loan at a time http://youtu.be/LZRp7CmPpi0
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