Trustee: Seed Capital Kentucky Inc
- Why are you interested in becoming a Trustee?
- Seed Capital Kentucky has a mission to support the development and growth of the regional food system surrounding and including Louisville, Kentucky. Many of our farmers and businesses in this emerging sector are themselves growing to meet the high demand for local food in our region, and access to Kiva Zip loans could make a significant impact for many of these people.
- What is the mission of your organization?
- Mission: Seed Capital KY is a 501 (c)(3) nonprofit organization created to catalyze the success and resilience of Kentucky’s regional agriculture and regional food economy. We support this mission in three key ways: Supporting Farmers: We offer grants to small farmers to enable them to access technical assistance to increase their capacity to grow their businesses, increase sustainability, increase access to capital, or otherwise play a larger or more meaningful role in the food economy. Technical assistance grants cover such things as accounting and financial planning, business planning, market development, marketing (including packaging and label development), food safety planning and process implementation, legal services, or whole farm planning. Supporting the Local Food Economy: We conduct research and provide other support for the development and expansion of a Louisville-based regional food hub to showcase food products, and aggregate and disseminate food produced regionally to buyers interested in purchasing regionally-produced food. Providing Thought Leadership/Convening: We create opportunities for interested individuals to come together to interact, network and collaborate on local food-related issues.
Borrower Due Diligence
- How will you decide who to endorse as a borrower? What due diligence will you conduct?
- We will use a process for vetting the borrowers that is similar to the process we use in vetting our grantees. We will review the application, have a personal interview with the borrower, and in some cases, perform a site visit. Then our grants committee will meet to discuss the loan request and make a collective decision. We will ask for specific plans for using the loan funds, will ask financial questions to make sure the borrower is solvent, and ask for a copy of the last year's business financials.