Wilmington Alliance and Cornerstone West CDC are partnering with crowdfunding lender Kiva to make interest-free business loans of up to $15,000 available to small businesses in Delaware.
Unlike traditional bank loans, Kiva loans don’t require a minimum credit score, years of cash flow documents or collateral. But you do need to meet the following minimum criteria in order to be considered:
· You and your business must be based in the United States.
· You must be over 18 years old.
· You must be using the loan for business purposes.
· Your business must not be engaged in any of the following activities: multi-level marketing / direct sales; illegal activities (e.g. gambling, scams); or pure financial investing (e.g. stocks)
· You cannot currently be in foreclosure, bankruptcy, or under any liens.
· You must be willing to demonstrate your social capital by having a small number of your friends and family make a loan to you.
Questions? Contact Mary Easley, capital access manager at
(302) 219-4629 or by email at delaware@local.kiva.org.
Click here for more information and to apply.
