RAIL CDC joined forces with Local Initiatives Support Corporation (LISC) and Kiva.org and became a Kiva Trustee, to help small businesses have access to capital if traditional lending is not an option.
- Who is Kiva? Kiva is an international nonprofit, founded in 2005 in San Francisco, with a mission to expand financial access to help underserved communities thrive.
- How does Kiva work? They do this by crowdfunding loans and unlocking capital for the underserved, improving the quality and cost of financial services, and address the underlying barriers to financial access around the world. The best part, LISC will match what has been raised dollar for dollar and the loan is paid back at a 0% interest rate.
- Am I eligible? Kiva crowdfunds loans for borrowers in more than 80 countries who are often financially excluded and can’t access other fair and affordable sources of credit. In the U.S., Kiva crowdfunds loans for borrowers who are either financially excluded or creating social impact in their communities. Kiva borrowers work in many industries. They may be farmers, artisans, students, shopkeepers, builders or restaurant owners. Many Kiva borrowers work multiple jobs to generate enough income to support their families.
- If this is crowdfunding, how does it work? By having friends, family, and your community lending as little as $25 on Kiva, you can be part of the solution and make a real difference in someone’s life. 100% of every dollar you lend on Kiva goes to funding loans.
If you want more information about the Kiva Loans or want to become a Kiva borrower, click below so we may contact you.