A San Francisco company founded to funnel loans to mom-and-pop shops in developing nations has brought its act to Texas, collaborating with Startup Waco to make no-interest microloans available locally.
Kiva, a nonprofit founded in 2005, has chosen to make Waco a âKiva Hub,â the first city in Texas to receive such a designation, Startup Waco CEO Jon Passavant said. He welcomed small business needing a loan up to $15,000 to contact Startup Waco, headquartered at 605 Austin Ave.
The Waco City Council gave the local Kiva Hub a financial kick-start, awarding it a $50,000 grant. Passavant said he hopes to approach individuals and foundations about putting additional money behind Kiva.
A San Francisco company founded to funnel loans to mom-and-pop shops in developing nations has brought its act to Texas, collaborating with Startup Waco to make no-interest microloans available locally.
Kiva, a nonprofit founded in 2005, has chosen to make Waco a âKiva Hub,â the first city in Texas to receive such a designation, Startup Waco CEO Jon Passavant said. He welcomed small business needing a loan up to $15,000 to contact Startup Waco, headquartered at 605 Austin Ave.
The Waco City Council gave the local Kiva Hub a financial kick-start, awarding it a $50,000 grant. Passavant said he hopes to approach individuals and foundations about putting additional money behind Kiva.