A new partnership between Capital One Bank, the Latino Economic Development Center (LEDC) and Kiva, a global microlending organization, will provide small business owners in the D.C. region access to capital through Kiva’s proven crowd-funded microloan program.
Sponsored by Capital One Bank, Kiva City D.C. is a new online portal that connects Washington, D.C.-area small businesses with Kiva’s global network of 870,000-plus individual lenders, giving small business owners the opportunity to apply for additional funding to help start, sustain and grow their business. Through Kiva City D.C., anyone with an Internet connection and $25 can help to fund loans to small businesses in the area by visiting www.kiva.org/dc.
“Capable entrepreneurs of diverse backgrounds are often excluded from accessing business loans through the formal financial sector,” said Manny Hidalgo, executive director of the Latino Economic Development Center. “LEDC is excited to be Kiva’s lead partner in the D.C. area to identify strong borrowers to qualify for these small dollar loans that will make a big difference in the lives of their families and the health of their communities.”
LEDC’s Community Asset Fund for Entrepreneurs works to identify qualifying borrowers in the D.C. area, administers the loans and posts profiles of each small business owner online at kiva.org/dc.
To apply for a loan through Kiva City D.C., click www.ledcmetro.org/cafemetro and then click "Apply for a Loan."