This morning, we launched Kiva City D.C.! Partnering with Capital One Bank and the Latino Economic Development Center (LEDC), Kiva will now offer loans to small businesses in Washington D.C.
Kiva City D.C. is a new online portal connecting small business owners in our nation's capital with Kiva's global network of over 870,000 lenders. By providing loans to these entrepreneurs, lenders can help them start, sustain and grow their businesses -- and even create new jobs!
"This initiative gives everyone a chance to help make a difference in the life of D.C.'s economy," says Kiva Co-founder and CEO Matt Flannery. "Kiva's partnership with Capital One and LEDC is making it possible for each one of us to support local small business owners and hear their stories as they work to serve their communities."
To boost access to credit for small business owners in the region, Capital One is matching every dollar lent to businesses posted by LEDC on Kiva! We're so thankful for their generous support.
We're also thrilled to be working with LEDC, a socially-driven organization that works hard to identify borrowers who need but may not qualify for loans. Facing steep collateral and credit history requirements, many dedicated business owners don't get the capital they need to make great things happen. Here at Kiva, we're dedicated to helping these people get the resources they need.
An LEDC client is learning how to prepare and improve her credit report.
According to the U.S. Small Business Administration, small businesses create two out of every three new jobs in the U.S., and have already created nearly 65% of the new jobs in the U.S. over the last 17 years. And, as small businesses grow and expand, local economies thrive, supporting schools, city services and sustainable communities.
Kiva City D.C. joins Kiva Cities in Los Angeles, Detroit and New Orleans where other community organizations and financial institutions have come together with Kiva to bring financial opportunity to underserved people.
Make a loan to a D.C. borrower today, and make a huge difference for a small business and everyone it touches.
Have questions about Kiva City D.C. or the Kiva City program? Send them our way at blog@kiva.org.
