Greetings all – We’re writing to make you aware that we recently became Trustees on the Kiva Zip crowd funding platform which provides 0% interest business loans to local entrepreneurs. Kiva Zip is new two Louisville, and in it’s first few months local business owners and farmers have crowd funded over $30,000 that help start or expand their operations.
Why did we decide to become a trustee on Kiva Zip? Participating as a trustee on Kiva Zip is a big step forward towards helping the women we work with to participate in, and hopefully one day start their own, “Freedom Businesses.” There is no financial cost to Scarlet Hope or the entrepreneur to participate on the platform.
Kiva is a non-profit organization that passes 100% of the funds raised on to the borrower in the form of a loan that is repaid to hundreds of lenders around the country, and around the world. Successful loans are based on substantial local relationships, which is what we’re building every day with our women, volunteers, and supporters throughout the region.
We’re just starting to scratch the surface when it comes to Freedom Businesses, but it’s important to go ahead and start using the Zip platform to establish a presence in the local and online micro lending community. Therefore, several weeks ago we endorsed some friends of Scarlet Hope who own a small local gym called BAREfit.
Rob and Curtis have been a great asset to our organization through providing classes and instructors to teach our clients about fitness and health. They’ve also helped to support the mission of Scarlet Hope financially with their dedication to challenging a portion of BAREfit’s profits into several local nonprofits! They’re at a crucial stage in their business where they’re transitioning locations in order higher more workers, make Louisville a healthier city, and grow their customer base.
We’ll be sending out email blasts for every loan that we endorse, asking friends and supporters to Scarlet hope to consider lending as little as $5 to help them meet their initial funding goal. Please realize that this is very different from Kickstarter and Indiegogo. Kiva Zip crow funds 0% interest loans meaning you dollars are eventually returned to you as borrowers pay back their loans. You can then continue lending on Kiva, or withdrawal your funds. We only endorse borrowers who we believe will repay their loans.
Please consider lending some amount to Rob and Curtis. They only have 4 days left to hit their goal of $5,000, or they will not receive any funds. In addition, Kiva is offering them a $500 matching loan if 30 or more of their lenders are new to Kiva (first time lenders). With a loan as small as $5 you can help them accomplish their goal!