Greater Indianapolis Kiva Hub*

For many small businesses, entrepreneurs, and hopeful startups - the options for accessing fair and affordable capital are often limited or nonexistent. Greater Indianapolis Kiva is partnering with Bankable to offer yet another resource and opportunity for Central Indiana businesses to access the capital they need to start and grow their business. No one knows hard work more than a Hoosier and Greater Indy Kiva allows for that work ethic to be leveraged into business funding.

Kiva Indy offers another option for securing capital for start-ups and small businesses. It is a crowdfunded micro-lender that offers distinct advantages to business that may lack credit history to secure a traditional bank loan. Kiva will not reject an entrepreneur because of their credit, net worth, or years in business. Instead, Kiva’s crowd-sourced model determines borrowers’ creditworthiness through “social underwriting” based on character and reputation.

Kiva Indy Stats So Far

Launched in March of 2020

8 loans funded so far

$40,500 lent

72% of dollars lent so far have been to minority owned businesses

96% of dollars lent to women owned businesses

Two Kiva Indy Borrowers

Menelik with Flex Forever

Loan Amount: $3,000
Funds went toward stocking inventory
for his custom apparel line.

Suzette with Sweattboxx
Wellness Center

Loan Amount: $4,500
Funds gave her working capital and allowed her to purchase equipment during the lockdown.

More About Kiva

Interested in learning more about the loan? Here are a few details:

0% interest loans up to $10,000

Repayment terms of up to 36 months, grace periods are available for agriculture businesses

Opportunity to build your business credit score

Funded by hundreds of lenders from around the world in increments of $25

You can take up to two loans

Who is considered eligible for a loan through Kiva?

A Kiva U.S. borrower must…

Be at least 18 years old

Not currently be in bankruptcy or foreclosure

Use the loan for a legal business

Have a PayPal account or the ability to set one up

What does the process look like?

Entrepreneurs that meet the minimum requirements can apply for a 0% interest loan from $1,000-$10,000.

After an application gets reviewed by the Kiva Indy small business advisor, borrowers enter into a private fundraising period. They invite 20-25 family, friends, customers, and community members to be their first lenders.

After the private period the loan then goes public on the Kiva website where any lender around the world can support their business.

Once the funding goal is met, the funds are disbursed and repayment begins one month later.

Borrowers can come back and receive a second loan for up to $10,000.

What does "character over credit score" mean?

No credit scores, collateral, business plans, or financial statements are required.

You establish your reputation and community of support by inviting lenders from your network.

Unlike other crowdfunding platforms, the Kiva community of 1.5 million lenders funds the majority of the loan amount

Other benefits of working with Kiva

Gain free marketing exposure to 1.5 million potential customers and champions for you business

Established connections to people who can support your business

Join the global community of millions of people committed to empower entrepreneurs around the world

What are a few ways to use the funds?

Upgrade equipment and renovate your space

Gain working capital or add inventory

Hire another set of hands

Pay for certifications and licensing

Build a website and invest in marketing

Ready for the next step?
 Apply now or send us an email at indianapolis@local.kiva.org and we would be happy to answer your questions.
*Kiva loans are not loans provided directly by Bankable, nor is the loan decision process done by Bankable. Bankable simply serves as a facilitating entity that helps interested individuals submit an application for Kiva consideration.