KIVA New Orleans /Support Small Business Entreprenuers

KIVA is a program that extends loans to extrepreneurs around the world and is currently in two United States cities, New Orleans and Detroit. Micro loans as low as $25 can be contributed and anyone can lend money, you decide who you want to support, you are not contributing money to the organization but to specific individuals. Micro lenders around the world contribute. 450 individuals out of 100,000 started small businesses in the New Orleans area last year which is above the national average of 350 out of 100,000.

New Orleans is the model city for KIVA in the United States. Some points of the program.

$10,000 maximum loan

36 months loan term

15% interest/no collateral/no credit score - interest rate can be lowered with a good payment history

Borrowers need to have a viable business plan and the ability to repay the loan

Good Work Network processes the application.

The actual loans are posted on the KIVA site and are fully funded within 24 hours

Business support services available

Most banks don't make small loans and the borrowers from KIVA have been turned down by a financial institution

Loans are funding within 24 hours

KIVA New Orleans