Kiva's Southern Arizona Crowdfunding Hub with Cassie Price | Coffee Chats with Caroline Nelson

Ever wonder how small businesses can access funds without crazy collateral or high-interest rates?In this episode of Let’s Talk Small Biz Finance, learn how Kiva's innovative crowdfunding platform connects small business owners with lenders locally and globally, offering a 0% interest loan option up to $15,000.Learn more about CIC’s Kiva Southern Arizona Hub: https://cictucson.org/kivaLearn more about the Kiva Collective: https://cictucson.org/kiva-collectiveAbout the Host:Caroline Nelson is the Chief Operating Officer and Director of Lending at Community Investment Corporation (CIC), a Tucson-based 501(c)(3) nonprofit that specializes in small business lending, crowdfunding, and alternative financing in Southern Arizona, including Cochise, Graham, Greenlee, Pima, Pinal, Santa Cruz, and Yuma Counties. Caroline is joined by Cassie Price, Capital Access Manager for Kiva’s Southern Arizona Hub.Have a question about small business finance, a theme, or a quest expert you'd love us to have on the show? Submit it here! https://cictucson.org/podcast-submission-formDiscover more about CIC's Entrepreneurship, Homeownership, and Education programs here: https://cictucson.orgTimestamps:00:00 - Introduction to small business financing with Kiva Crowdfunded Loans02:15 - Understanding what crowdfunding is and how Kiva’s platform works03:39 - What is Kiva? Connecting small businesses globally04:53 - How crowdfunded loans are pooled from many lenders05:48 - Ideal client profile for Kiva loans and the importance of community support06:30 - Business stages suitable for Kiva funding, from idea to established08:32 - Building a strong social network and online presence for success09:48 - Application process details and required documentation10:43 - The significance of a compelling personal and business story11:57 - Private vs. public fundraising phases and how they function12:39 - Impact and excitement of community support through crowdfunding13:21 - The marketing benefit of crowdfunding and resources for application support13:45 - Difference between traditional lending and Kiva’s model with no collateral or interest14:23 - Financial health and credit considerations in the Kiva process15:02 - Setting funding goals and specific use of funds examples16:28 - Using Kiva funds for startup costs and business growth17:18 - The role of lenders, risk, and repayment expectations18:47 - How Kiva manages repayments and lender flexibility21:13 - Support, community, and engagement perks for lenders22:30 - Benefits of applying through a Kiva hub like CIC in Tucson23:11 - Timeline for application and fundraising phases24:37 - What happens if fundraising goals aren’t met25:12 - Refund process and how lender funds are recovered if campaign fails26:22 - The Kiva Collective and community-building events28:23 - How to connect with CIC and Cassie for support and application help30:33 - Summary and key takeaways: low-cost, accessible financing for any stage31:10 - 5 to 1 Matching funds for Native and Indigenous entrepreneurs#BusinessFinance #LoanApprovalTips #Underwriting101 #FinancialFreedom #SmallBizGrowth #weknowyourworth