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Trustee: City of Oakland
Why are you interested in becoming a Trustee?
The City of Oakland desires to become a Kiva Zip "Trustee" and make the Kiva Zip platform available to local small businesses so they can access no-cost capital that may not otherwise be available while promoting economic development in Oakland; In addition we also would like to encourage and spur local economic development and job creation in an era of limited financial resources.
What is the mission of your organization?
The mission of our organization is to produce sustainable development that embraces the three principles of environment, economy and equity to residents, workers, businesses and property owners through the implementation of projects, programs and the provision of services in order to improve the physical landscape and economic environment of the Oakland Community. As well as, helping businesses and residents prosper by increasing investment in Oakland by creating an environment that promotes the retention, expansion and attraction of businesses.
Borrower Due Diligence
How will you decide who to endorse as a borrower? What due diligence will you conduct?
Endorsed entrepreneurs will be registered clients of the Business Assistance Center (BAC) and participate in direct business consulting efforts with BAC Advisors. Each of our loan clients must complete the following criteria 1. There is a strong community need for this business. 2. The person is in good character. 3. Client has the capacity to pay back the loan. For this we run their credit report, where we will be able to assess amount of debt and the financial risk of lending to each client. We want to make sure that whoever receives the resources will be capable of repayment, while expanding the program to other potential clients.
This is the type of organization that the Trustee is.
What are Trustee tiers?
Trustee tiers determine the number of endorsements a Trustee can make and what loan sizes they can endorse. All Trustees begin as a pilot and can advance in tier depending on their borrowers' repayment performance.
For for more information about Trustee tiers, visit: kivaushub.org/trustee-tiers
This is the location where the Trustee is based.
Trustee's time on Kiva
Time on Kiva shows the number of months a Trustee has been endorsing loans on Kiva for funding.
Kiva borrowers (direct loans)
This figure represents the total number of loans endorsed by this Trustee that have fundraised on Kiva.
Trustee's total loans
This figure includes the total amount of loans that this Trustee has endorsed. This excludes refunded loans.
Fundraising / raised
This figure represents the number of loans endorsed by this Trustee that are currently fundraising or fully funded.
Paying back on time
This figure represents the number of loans endorsed by this Trustee that are currently paying back on their repayment schedule.
Trustee's loans paying back late
This figure represents the number of loans endorsed by this Trustee that are currently paying back behind their repayment schedule.
Repaid in full
This figure represents the number of loans endorsed by this Trustee that have completed all repayments.
Trustee loans defaulted
This figure represents the number of loans endorsed by this Trustee that have ended in default.
Trustee repayment rate
This figure is the total amount of money currently collected by borrowers endorsed by this Trustee, divided by the total amount of money currently due from borrowers. This excludes payments made ahead of schedule.