Trustee: Urban Innovation21
- Why are you interested in becoming a Trustee?
- Urban Innovation21 is working to train successful entrepreneurs in some of our region’s most underserved communities who can ultimately become suppliers to or can create support businesses to our region’s successful innovation economy ecosystem. Our training and micro-enterprise grants work to connect informal sector entrepreneurs to bring their productivity into the mainstream and it also assists small businesses to build to scale. Partnering with Kiva Zip will more fully enable us to fulfill our mission.
- What is the mission of your organization?
- Urban Innovation21 links successful innovation economy clusters with the needs and assets of underserved communities by designing and implementing programs, building strategic bridges and teaming up with existing organizations and initiatives to make sure that our region’s poorest communities and the residents of those communities also benefit from our region’s economic success. Urban Innovation21 believes that an inclusive innovation economy is key in increasing regional competitiveness and sustainability.
Borrower Due Diligence
- How will you decide who to endorse as a borrower? What due diligence will you conduct?
- By tracking their participation in mandatory workshops and technical assistance assignments, perfect participation serves as indicator of commitment to their business success. Urban Innovation21 will also work with local CDFIs, Small Business Development Corporations, Banks and other economic development nonprofits that it has partnered with in the past to determine a borrower’s credit worthiness and prospect for success. We will work with partnering organization to ensure that participants complete personal finance disclosure statements, have a solid business plan and a proven commitment to developing their business.
About Urban Innovation21
All Loans for this Trustee