Kiva Lending Team: Fund 17 New Orleans
We loan because...
We are based in New Orleans, a city that is experiencing an entrepreneurial renaissance yet that still maintains high levels of inequality when compared to national averages. For example, 71% of New Orleanians have sub-prime credit scores. Fund 17 believes that this figure is intrinsically tied to New Orleans's wealth and asset poverty, as it makes it difficult for anyone trying to use entrepreneurship to pull themselves out of poverty to get the funding they need. Through equitable services tailored to the needs of each micro-entrepreneur, we believe that we can help provide economic opportunity to New Orleanians who have been excluded from traditional business development services such as bank loans.
Fund 17 is a non-profit based in New Orleans that helps entrepreneurs in the city develop their businesses and watch their ideas come to fruition. One way we do this through one on one entrepreneurial training with our fellowship program. This program trains university students to provide assistance to entrepreneurs in the area focusing on our three key values: establishment of healthy business systems, personal goal-setting, and financial empowerment. We also serve as the Kiva ambassadors in New Orleans, meaning that we act as a resource to entrepreneurs in the area who are applying for loans.
Location: New Orleans Team website
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Elizabeth's Group received a loan from Sue Griffey to purchase hybrid seeds and fertilizer for the cultivation of maize, as well as a solar light.
Shaun received a loan from 1 team members which helps transition production to an external print shop, redesign website to fit current business offerings and ability to customize t-shirt designs, and cover filing fees associated with establishing a Louisiana business entity and trademark.
Lees received a loan from 1 team members which helps make infrastructure improvements to the nursery in order to produce more native plants and invite customers to shop on-site.
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