AUSTIN, Texas — The city of Austin has launched its first Kiva Hub, a program offering crowdfunded microloans and business coaching to entrepreneurs who have struggled to access traditional financing.
Through the partnership between Austin Economic Development and Kiva, local small business owners can apply for loans ranging from $1,000 to $15,000 with zero percent interest, no fees and no minimum credit score required. Applicants will also receive guidance from a local capital access manager throughout the process.
“Business funding should not be out of reach,” said Anthony Segura, deputy director of Austin Economic Development. “Partnering with Kiva showcases our shared commitment to empower small business owners — regardless of background.”
The program also allows community members to contribute as little as $25 toward funding local businesses, with the goal of supporting job creation and economic growth across the city.
Austin is now one of two designated Kiva Hubs in Texas.
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