Trustee: Increase Community Development Corporation
- Why are you interested in becoming a Trustee?
- We provide microloans up to $10,000 but many of the retail and product based businesses we help start need more than $10,000. Partnering with Kiva will give our clients more access to capital for a sufficient startup.
- What is the mission of your organization?
- To increase the quality of life through education, entrepreneurship and economic development.
Borrower Due Diligence
- How will you decide who to endorse as a borrower? What due diligence will you conduct?
- Endorsements will be reserved for low-to-moderate income business owners or businesses that employ low-to-moderate income individuals. All applicants will undergo an internal loan review to analyze the viability of the business, credit history (not solely determined by score), projections and their ability to repay. They must have a business plan, be registered with the Ohio Secretary of State and they must demonstrate potential sales through an existing customer base, purchase orders or additional letters of support from the community for the product/service. Approval for endorsements will be decided upon by the Loan Review Committee made up of Board members and community residents after the internal loan review has been completed. Those who complete our Microenterprise Training Program will be given priority for consideration.
About Increase Community Development Corporation
Trustee type: Non-Profit, Microenterprise Development
Location: Columbus/Franklin, Oh
Time on Kiva: June 19, 2016 (46 months)
Total loans: $38,000
Paying on time: Not enough data
Paying back late: Not enough data
Repayment rate: 27%
All Loans for this Trustee