The Walton Family Foundation has awarded another three-year, $470,000 grant to Startup Junkie Foundation to continue facilitating the Northwest Arkansas Kiva Hub. The grant will allow the foundation to assist entrepreneurs and small business owners access much needed capital via Kiva’s community-backed micro-loans through the fall of 2025.
The Walton Family Foundation will also continue to provide dollar-for-dollar matching of loan funds for every new, Kiva-approved small business borrower located in Washington and Benton counties.
In December 2019, Arkansas’ first official Kiva Hub was launched in Northwest Arkansas. The hub serves as a local resource center by which entrepreneurs and small business owners can access the Kiva platform to obtain no-fee, no-interest micro-loans of up to $15,000 from a community of local and national lenders.
The repayment rate for Kiva loans is approximately 78% across the U.S. Through the NWA Kiva Hub, Startup Junkie Foundation provides consulting and technical assistance to borrowers and small business owners, including assistance with the Kiva online application process, working step-by-step to increase the likelihood of approval. While borrowers can seek loan approval through Kiva without going through the Hub, having a local partner like the Startup Junkie Foundation and a Kiva Capital Access Manager increases the likelihood of success for local entrepreneurs and business owners.
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