Fwd: Latest News from Kiva Detroit

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Grace Montero

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Mar 25, 2014, 6:12:23 PM3/25/14
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Is Kiva still out of the question?

---------- Forwarded message ----------
From: "Kiva Detroit" <ki...@michigancorps.org>
Date: Mar 25, 2014 3:11 PM
Subject: Latest News from Kiva Detroit
To: <grace...@gmail.com>
Cc:

Michigan Corps
 
 

Dear Team Kiva Detroit,
 
We've been keeping busy and wanted to provide some updates on all the latest happenings at Kiva Detroit! Recently, we held two very exciting events in the last couple of months - Celebration Soup and a Coffee, Credit and Cash Flow workshop. We're also actively partnering with more organizations working with entrepreneurs who could benefit from a 0% interest loan! If you're interested, email us at ki...@michigancorps.org 

Lastly, we invite you to support our newest borrower, Ocelot Print Shop, by making a small loan that will be matched dollar for dollar by the Knight Foundation - visit their profile today! 
 
Celebration Soup!
Over 300 people joined us in February to celebrate the anniversaries of Detroit Soup and the D:hive Build Institute! Four entrepreneurs in the community presented their new business ideas and Fresh Cut Detroit walked away with a $3,000 grant! Fresh Cut Detroit is currently in the process of applying for a Kiva loan to help grow the flower farm and delivery business, so keep a look out for their profile on zip.kiva.org!
 
Coffee, Credit and Cash Flow Workshop - Last week, we gathered at Always Brewing to Detroit to host a workshop on credit and cash flow (accompanied by plenty of coffee, of course!) for a group of local entrepreneurs. Following a presentation, the entrepreneurs had an opportunity to meet one-on-one with a number of volunteer experts from local financial institutions. The casual atmosphere, the information presented and the individual advising made for a fun, one-of-a-kind opportunity! 
 
New Partnership with Michigan Women's Foundation!
We are excited to announce a partnership with the Michigan Women's Foundation to provide Kiva financing for women-led businesses in the community! As a new trustee, the Michigan Women's Foundation will have an opportunity to recommend entrepreneurs for zero-interest financing up to $5,000! 
 
Spotlight on Newest Borrower! 
We've had the privilege of working with Stacey Malaskey and her team at Ocelot Print Shop to kick off fundraising for a new screen printing press. Stacey and co. put community at the core of everything they do and they're having a real impact on the Midtown neighborhood. Help support them today by contributing to their loan!
 
Thank you for all your support of small business in Detroit!
 
- The Michigan Corps Team

Vic Kimandi-Bell

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Mar 25, 2014, 10:27:01 PM3/25/14
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I know Delphia & Elizabeth quite well… if you all need an appointment, let me know.

-Vic


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Jay R

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Mar 25, 2014, 11:03:58 PM3/25/14
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Was never truly out if the question...they just have only done loans on smaller amounts historically. So for me, I felt like our focus should be on the larger ones as we need them to operate versus getting 2-3k for a piece of equipment

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Grace Montero

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Mar 25, 2014, 11:08:14 PM3/25/14
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Has there been a loan in the range of 10k to 20k? That anyone knows of???

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Jay R

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Mar 25, 2014, 11:28:49 PM3/25/14
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You can look on the site..but I haven't seen it. Maybe its private, idk

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Grace Montero

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Mar 25, 2014, 11:30:31 PM3/25/14
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ok kool...well if it;s only for 5k atleast it's interest free

Best Regards,
Grace Montero
COO Repyourcity /Co-Founder Social Sushi
313.530.8741

I LOVE DETROIT Video (Jay Rayford CEO Repyourcity)


"There is only one success--to be able to spend your life in your own way."--
Christopher Morley



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Vic Kimandi-Bell

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Mar 26, 2014, 7:51:49 AM3/26/14
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if you go straight to the Kiva org. itself - yes, but not for just Detroit.


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Jay R

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Mar 26, 2014, 10:39:42 AM3/26/14
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Explains their program. You can start a campaign for up to 5K...(similarly to Fundrise) where people contribute the funds +/- $25 as an interest free loan.
With the Kiva ZIP loan it offers people the opportunity to support with as low as $5 and after successfully paying back the loan, you can qualify for a loan up to $10k.

So it isn't like a guaranteed loan once accepted. It's a crowdfunding platform like most just with a loan base vs. prizes/gifts like with Kickstarter or Indiegogo.

So we will then have to put in work (with the awesome possibility of getting funders from anywhere in the US that may happen to see it and want to support it) to raise the smaller amount.

This is why I was more focused on the other channels for the bigger initial raise vs a $5k max on the Kiva platform. Again, not that it's out of the question...but for the work that needs to be put into the campaign, I want to go for a bigger amount. Just my two cents.

I've also been through the process with Kiva and because of my student loans and previous defaulted car payment, I wasn't able to get qualified. With Kiva Zip, the loan has to be endorsed by someone as with Ocelot print shop and Dhive (https://zip.kiva.org/loans/3526?hli=0&ili=0&utm_source=www&utm_medium=web&utm_content=zip&utm_campaign=zip_launch&utm_term=button_lend_now)...and as a Dhive graduate, if my name can't be on there, idk who we can get to endorse it...or who really is qualified in their book to endorse candidates. (Similar in many ways to Patronicity and how we were under the Dhive community)

Please do respond if you feel strongly about going the Kiva route initially. For a small raise later..I'm down for. Just not for putting in the energy on a smaller raise.

Jay Rayford Jr. (about ME)
Sweet article HERE

I LOVE DETROIT Video


Jay R

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Mar 26, 2014, 11:15:15 AM3/26/14
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Detroit Midtown Micro-Enterprise Fund
440 Burroughs, Suite 140
Detroit, MI 48202
Executive Director :
Lorenzo Thurman
Microlending :
Lorenzo Thurman
Phone: 313-263-4032
Email:
URL:
Service Area: Wayne, Oakland

Jay Rayford Jr. (about ME)
Sweet article HERE

I LOVE DETROIT Video


Vic Kimandi-Bell

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Mar 26, 2014, 6:56:52 PM3/26/14
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you wrote, "For a small raise later..I'm down for. Just not for putting in the energy on a smaller raise."

i'm all for that...


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