Nov 23, 2021 - Business
More pandemic relief for NW Arkansas small businesses
Illustration of a pattern of stacks of money.
Illustration: Shoshana Gordon/Axios

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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