Become a Borrower
Kiva Zip is a website that enables individual lenders around the world to ‘crowd fund’ interest-free loans directly to small business owners and entrepreneurs in the US and Kenya. The three primary objectives for this program are to:
- Expand borrowers’ access to capital, by making loans to people who may not qualify for conventional loans
- Lower the financial costs of borrowers by leveraging new technologies
- Develop personal connections between Kiva Zip lenders and borrowers by enabling them to communicate on the Zip website
As a borrower on Kiva Zip you will have the opportunity to raise interest free capital and access a community of lenders who can serve as brand ambassadors and potential customers for your business.
Where are you?
Kiva Zip in the US
- The maximum amount of your first Kiva Zip loan can be up to $5,000
- The payback period can be anywhere from 10-24 months. You can repay the loan in weekly or monthly installments
- The interest rate is 0%, and there are no hidden fees
- Upon the successful repayment of your loan, you can qualify for a loan up to $10,000
- Loans are disbursed, and repayments collected, electronically via PayPal
- People with strong businesses or business plans
- People with strong character and an entrepreneurial spirit
- Can not currently be in foreclosure or bankruptcy proceedings
- Not heavily indebted -- monthly debt payments-to-income ratio less than 35%, and $0 of overdue debt (except for up to $3,000 of overdue medical debt)
- Low or moderate income individuals (no millionaires!)
Kiva Zip in Kenya
- The maximum amount of your first Kiva Zip loan can be up to 10,000 KSh
- The payback period for your first loan will be 2-3 months
- You can repay the loan in weekly or monthly installments
- The interest rate is 0%. There are no hidden fees
- If you pay back in full and on time you will be able to access larger loans and more flexible loan terms (for more information on Credit Ladders see our FAQ)
- Loans are disbursed, and repayments collected, via M-PESA
What Now? Find out more about Kiva Zip!
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Are you interested?
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