"Through the Department of Commerce and Kiva, we are committed to finding new and innovative ways to provide funding to small businesses, to help them expand and grow, and to regenerate neighborhood commercial corridors throughout the city."
Kiva City Philadelphia is a partnership between the City of Philadelphia's Department of Commerce and Kiva.org to bring crowdfunded microlending to Philadelphia's small business community.
Philadelphia is home to more than 26,000 small businesses that employ more than half a million people in the region. These small businesses are as diverse as the city itself, and vital to the local economy.
Small businesses in Philadelphia are serving up artisanal foods, providing professional and creative services, keeping craft manufacturing alive, and boosting the local fashion and retail scenes.
But many small business owners and budding entrepreneurs also struggle to access the loans they need to get started and grow. They're denied loans from conventional lenders for any number of reasons: the amount of money they need is too small, their business is too young, their plan is too innovative or their credit history is too short or damaged.
What they do have is passion, plans and people in their community that know and trust them. And now with Kiva, they have the support to ensure their growth and sustainability.
When small businesses do well, we all do.