KivaNashville is a community backed loan program that supports local businesses.
How does it work?
A local business applies to be part of the program and seeks a loan of $500 to $10,000 to build their business. If approved, the business receives help launching a campaign through Kiva.org. where community members lend to the business in $25 increments.
If the campaign is funded, the business owner receives the funds and uses them toward the purpose stated in the campaign.
What loan size can I qualify for?
This depends on what you need the loan for, how long you have been in business, the strength of your online presence, and your personal and business finances.
Kiva will determine the amount of loan you qualify for.
What are Matching Funds?
For businesses owned by a person of color or a woman AND whose business is located in Nashville's Promise Zone, once the business raises half the funding, the rest may be matched by the NashvilleImpactFund*
*matching funds are provided by a grant from TN ECD/LiftTN and are limited.
How does repayment work?
Funded businesses have 36 months to pay the loan back to kiva at no interest. The lenders receive these funds back into their account and can re-lend to other campaigns.
What happens if I don't qualify for a loan?
We will connect you directly to local business support organizations who will work with you to be in a better position for the next round.