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Microlender Kiva Hits $1M Milestone in Northwest Arkansas

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Microlending platform Kiva announced it has surpassed $1 million in interest-free loans to entrepreneurs in northwest Arkansas.

In a news release, Kiva said it has provided loans of up to $15,000 to more than 100 businesses in the region since it began operations there in December 2019. The nonprofit, which says it emphasizes “character over credit,” offers funding opportunities to small business owners who may not qualify for traditional loans.

Kiva was established in Uganda in 2005. It expanded to the U.S. in 2009 and has established more than 40 hubs across the country.

In northwest Arkansas, the nonprofit works with Startup Junkie Foundation of Fayetteville to connect with local businesses.

“This achievement showcases our unwavering commitment to empowering entrepreneurs and fueling their dreams,” Claudia Scott, Kiva NWA capital access manager, said in the release. “Each loan we’ve extended is not just a transaction but a testament to resilience, determination, and the belief that every dream is worth investing in.”

 

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