0% INTEREST BUSINESS LOANS UP TO $5,000
What is Kiva Zip?
Kiva Zip is a website that enables financially excluded and socially impactful entrepreneurs to access 0% interest small business loans. These loans are crowdfunded by hundreds of lenders from around the world that read your story, lend you as little as $5 each, and rally around your business as potential customers, business advisers, and -brand ambassadors.
Paulette lives in Oakland and makes handmade soaps and beauty products in her home. She used a $5,000 loan to purchase her key ingredients in bulk and market her brand, Sweetpeaz. 249 people around the world funded her loan in less than one month.
“Having 249 people invest in Sweetpeaz is like hiring 249 brand ambassadors for my business.” — Paulette
Loan Purpose
You can use a Kiva Zip loan for any business purpose:
- Purchase inventory
- Invest in equipment
- Expand product lines
- Hire staff
- Marketing & advertising
Loan Description
- Small size (first loans are $500 are less; subsequent loans can be larger)
- Short term (24 months or less
- 0% interest
- Administered via PayPal
- Crowdfunded on Kiva Zip
Strict Requirements
Kiva Zip followers must:
- Have a PayPal account or be able to create one
- Be over 18 years old
- Not currentlybe in foreclosure or in bankruptcy
Trustees
As opposed to using tradition financial metrics, Kiva Zip evaluates borrowers’ credit worthiness based on their network. A borrower is able to fill out a loan application upon an endorsement from a Trustee. A Trustee is an individual or an organization who writes a public endorsement vouching for their character and business. Trustees are not financially or legally liable.