Kiva Southern Arizona Hub
More than a loan: Crowdfunding Dreams
Community capital raised through Kiva provides small businesses and nonprofits in Southern Arizona with 0% interest loans and hands-on support.
CIC is proud to partner with Kiva US and to serve as the local Kiva Hub for Southern Arizona, with a goal making funding more accessible and achievable for small business owners throughout Southern Arizona. Since 2011, Kiva has created pathways to capital for entrepreneurs globally where conventional lenders don’t. Kiva loans focus on storytelling and community support, not credit scores or collateral. Through our partnership with Kiva, we provide in-person support for both businesses interested in borrowing funds, and for individuals and investor groups interested in lending money to support their local economy.
Get Involved:
Apply for a loan through Kiva’s borrower platform to access 0% interest funding, build your credit, and gain the support of a nationwide community that believes in your business.
Join a collective of Kiva lenders to amplify your impact and learn about local businesses, support your local economy, and build true community through crowdfunding, starting with $25.
Kiva Crowdfunded Loans
Empowering entrepreneurs with the capital they need through community supported lending.
Crowdfunded Microloans ranging from $1,000 to $15,000 can be used for a variety of business needs, whether you’re purchasing equipment or inventory, making property improvements, or need working capital. CIC is here to support you to get across the fundraising finish line.
Up to $15,000 | 1 – 3 year term lengths | 0% interest rate
Terms
- 1 – 3 year term lengths
- 0% interest rate
Eligibility
In order to receive a 0%-interest, zero-fee, zero-collateral loan from Kiva, you must meet the following minimum eligibility criteria:
- You must be at least 18 years of age
- You must not currently be in foreclosure, bankruptcy, or under any liens.
*If the soft credit inquiry returns information that conflicts with the applicant’s self-reported credit history, a turndown will likely result. - You must not have had a violent or financial criminal conviction in the last 5 years.
*If the identity-verification report returns information that conflicts with the applicant’s self-reported information about prior convictions, a turndown will likely result. - You must not be a registered sex offender.
- You must reside and operate your business in the United States.
- Your business cannot be registered – nor have primary operations in – the states of Nevada or North Dakota.
- You must be seeking a loan for business purposes other than refinancing debt and purchasing stock or equity.
- Your business must not be of a type deemed ineligible for a Kiva loan.
Some examples are: federally illegal activities (e.g., gambling, hemp-related products); businesses related to tobacco, pawn-shops, weapons, multi-level marketing, direct selling, cryptocurrencies, drones, or adult entertainment; businesses providing contract work for large corporations (e.g., AirBnB, Uber, Lyft, DoorDash, etc.). - You must be able to prove revenue (i.e., donations) in the past 12 months if your business is a nonprofit organization.
- You must have a PayPal account (that’s how you will receive as well as repay your Kiva loan!)
- You must be willing to demonstrate your social capital by asking a small number of your friends, family, clients, and/or business partners to make a loan to you during the Kiva Private Fundraising Period – learn more here.
* Please note that impactful loans will be given precedence during the application review process. This is in alignment with our efforts at Kiva U.S. to rethink creditworthiness and expand access to capital to underserved communities: while we do look at your financials, we prioritize your character, the impact your loan will have on your community, and how much support you have from your community.
How Kiva works: for Borrowers
1. Apply
Meet the minimum eligibility criteria? Fill out our easy online application.
Application usually takes 30-60 min
Approval usually takes 10-15 Business Days
2. Invite
Prove your creditworthiness by inviting friends, family, and others to lend to you.
Learn more about social underwriting.
Initial crowdfunding usually takes 10-15 days
3. Fundraise
Continue crowdfunding on Kiva's public platform, which will enable you to reach over 2 million lenders worldwide to reach your goal.
Public crowdfunding usually takes 20-30 days
4. Repay
After your goal is reached, you will begin repayment one month after receiving your loan to fulfil your commitment to your supporters.
Repayment usually takes 12-36 months
Have questions, or need a little extra support? Email Cassie or call (520) 529-1766 x 200.
“If you would like to get involved, or have questions about borrowing or lending through Kiva, please reach out! I’m here to provide assistance through each step of the process.”
Cassie Price, Capital Access Manager, Kiva Southern Arizona Hub
Kiva Southern Arizona Hub’s Capital Access Manager, Cassie Price, is a staff member of CIC, trained extensively by Kiva on how to share the loan opportunity with entrepreneurs. Cassie shares best practices for the application and fundraising process and builds a robust support ecosystem here in Tucson and Southern Arizona by activating a local lending community.
Community Support: CIC's Kiva Collective
Through CIC’s Kiva Collective, Kiva borrowers have the opportunity to connect with a pool of potential lenders face-to-face and share about their businesses, their stories, and build true community through place-based crowdfunding.
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