Kiva Zip Pittsburgh
PCRG recently met with Kiva Fellow, Aletheia Henry, to learn how Kiva Zip Pittsburgh can help address some of the financial gaps for our region's entrepreneurs. The Kiva Zip program offers 0% interest business loans of up to $5,000.
What is Kiva Zip?Kiva Zip is a new initiative to make small business loans to entrepreneurs in the United States. Kiva Zip aims to expand access to capital for microenterprises, to lower costs of capital, and to increase connections between borrowers and lenders. We help entrepreneurs “crowd fund” loan capital from individual lenders around the world at a 0% interest rate. These lenders not only supply interest free capital, but also act as brand ambassadors for your business, and can be used as a valuable resource for feedback, support, and advice.Is Kiva Zip good for me?If you are looking to start a business or grow your existing business and need a small amount of startup capital want to hear from you. You can inquire about a loan by visiting www.zip.kiva.org/borrow 
1 The borrower’s Debt : Income ratio is easy to calculate at this link.2 Debt is classified as past-due when it is more than 30 days late.3 It is easy for borrowers to set up a Paypal account. Paypal customer service can be reached on 888-221-1161. How does Kiva Zip work?You’re able to fill out a loan application upon a referral from a trustee. A trustee is an individual or organization who is able to write a public endorsement and speak to your character/personality and business concept. A trustee should be someone who has known you for some time (over 3 months), knows your business, and understands how a loan will be beneficial.What’s required of a trustee?A trustee has to do two things in order for you to apply for a Kiva Zip loan:1) Create a public profile on Kiva Zip that will be showcased on your profile (10-15 minutes)2) Write a public endorsement for you as a borrower (5-10 minutes)Organizational TrusteeAn organizational trustee is an organization that provides a certain level of support or assistance for your business. Whether it be help with a business plan or ongoing support of your existing business, they are able to endorse the viability of your business and your character/personality. Organizational trustees allow you to start with a 0% interest loan up to $5,000 that is paid back between 10 and 24 months.Individual TrusteeAn individual trustee is someone that is able to vouch for your personality/character. They must have known you for over three months and have a basic understanding of your business. Individual trustees allow you to start with a 0% interest loan up to $1,000 that is paid back between 3 and 6 months. Upon successful repayment you would qualify for a loan up to $5,000.EndorsementAn endorsement is a 4-question assessment of you and your business. It exists to provide lenders more detailed information so they can decide if they want to make a loan to you. Trustee Profile Page Trustee EndorsementTo see the trustees that Kiva Zip has partnered with, please visit zip.kiva.org/trusteesTo learn more about the Kiva Zip program, please visit zip.kiva.org/faq