Affordable Financing for Tenderloin Businesses
As a neighborhood KIVA trustee, TEDP helps small business owners apply for and secure zero interest KIVA loans to build their business. Affordable financing is an important tool that businesses need to stabilize and grow their business. Based on its unique "crowd-sourced" approach, KIVA combines the resources from small personal lenders around the world to fund small business loans.
KIVA helps many small immigrant-owned business owners in the Tenderloin who are excluded from access to traditional loans. Using a "character-based" lending approach, the program builds trust and community connections between the borrower and lender and enriches the entire neighborhood through the process.
To date, TEDP has helped over 26 businesses in the Tenderloin fund loans totaling $170,000.