Trustee: City of Foster City
Foster City, CA
- Why are you interested in becoming a Trustee?
- The City of Foster City is committed to expanding financial opportunities to our small business and micro-enterprise community, who might otherwise be unable to access capital. By investing in our small- and micro-enterprise community we enhance the economic vitality of our community.
- What is the mission of your organization?
- As part of our “Sustainable Foster City” initiative, we strive to create a sustainable local economy that is self-renewing, and encourage a wide variety of community-serving businesses that support a thriving community.
Borrower Due Diligence
- How will you decide who to endorse as a borrower? What due diligence will you conduct?
- City Staff will work closely with borrowers and Kiva representatives to determine loan eligibility using the following criteria: 1) Verification of business ownership, 2) Requirement of a minimum two-year lease agreement with landlord and/or property ownership, 3) Verification of income and debt ratios using data provided by borrower in the Kiva loan application, 4) Review business plans