Startups and small businesses impacted by the pandemic may be eligible for small no-interest loans.
What's happening: The Walton Family Foundation (WFF) has contributed $190,000 as matching funds earmarked for businesses in Benton and Washington counties through the Kiva NWA hub.
- Kiva is an international organization that connects borrowers with lenders. Borrowers are typically struggling business owners, many of which are historically disadvantaged people.
Why it matters: Up to 50% of an approved borrower's loan will come from the WFF contribution, making access to the capital faster.
Flashback: Startup Junkie established the Kiva hub in 2019 with help from the Walton Family Foundation.
By the numbers: Since 2019, the Kiva NWA hub has provided loans to 54 borrowers.
- 50 of the NWA borrowers identify as a member of a marginalized community or a woman business owner, according to Startup Junkie.
What they're saying: "These are truly loans that change lives. I believe we can make a difference in our small business community with the Kiva program during this time of continued uncertainty," said Martha Londagin of Kiva NWA.
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