kiva zip @ building business in the bronx roundtable: feb 12 2013
DESCRIPTION
Sharing the Uniqueness of KIVA Zip (Zip.kiva.org) to the Quarterly Bronx Small Business Roundtable - jointly held every quarter by the White House Business Council, the U.S. General Services Administration, the U.S. Small Business Administration, and Start Small Think Big.TRANSCRIPT
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http://www.kiva.org/live
Watch all loans as they happen live online!
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972,016 entrepreneurs funded since 2005
1.3mil registered lenders
In 2012 alone, US$150 mil crowd-funded loans
US$1mil every 2.5 days!
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10 minutes, 3 Things
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0% interest loan product funded
entirely via online crowdfunding
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Small starter loans up to $5,000 designed for low
income and/or financially excluded entrepreneurs
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Or ...“Getting ordinary folks to fund loans to those businesses no
banks will lend to.”
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Completely new model of microlending specifically addressing needs of US micro-entrepreneurs
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Kiva Zip: reinventing small biz borrowing
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Kiva Zip: reinventing small biz borrowing
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Kiva Zip: reinventing small biz borrowing
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Kiva Zip: reinventing small biz borrowing
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Trust =
Character + Competence
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Kiva Zip “Trustees” and why they matter
In the Kiva Zip model of character-based lending, “Trustees” - organizations or individuals that work closely with small entrepreneurs - are absolutely crucial.
Trustees are those entrusted to recommend the most trustworthy small businesses for crowds to lend to:-
Identify eligible and deserving borrowers for 0% interest loan
Publicly endorse them on the Kiva Zip website
Support the borrower in their business (advice, mentorship, incubator space, networking)
Trustees have no financial risk if a borrower they endorse does not repay, but their reputation is tied to borrowers’ performance.
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How ZIP works: example of Victor, SF
Lenders can also check out his Yelp
profile
Repaid 10 months on time
Victor engages his lenders with the “conversations”
feature
Now applying for a second ZIP
loan of $10,000
Created 5 new part-time
jobs
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What’s in it for trustees?
Empower Clients
If you already work with financially excluded clients (unproven startups, or low credit score entrepreneurs)...
Kiva Zip will give the clients you endorse access to 0% business loans they would otherwise not qualify for
Promote what you
do
If you already do great work in your community that largely goes unrecognized or unpromoted...
being a Kiva Zip trustee automatically allows you to promote your work (in your own words) to >1 mil socially-conscious Kiva lenders everywhere. Also participate in Kiva PR initiatives.
Increase Impact,
Help Fundraise
If your organization’s potential funders care about tangible impact (businesses helped, $$ generated, jobs created)...
Kiva Zip helps you help more small businesses take off, faster. Endorsing a deserving borrower online takes 15min. Reducing time and cost for raising capital means you can impact more.
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1.4mil, 20% Unemployment
Zero Entrepreneurs taking advantage of 0% Zip loans
Great local community programs stimulating entrepreneurship
We’d like to change that, and soon! [email protected]
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10 minutes, 3 Things
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0% interest loan product funded
entirely via online crowdfunding
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Small starter loans up to $5,000 designed for low
income and/or financially excluded entrepreneurs
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Together: we can get work together to finance good businesses no
banks will lend to.
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And finally....If I haven’t run out of time
Play Video: “Crowdfunding Small Business - 1 small loan at a time http://youtu.be/LZRp7CmPpi0
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