Overview

Why are you interested in becoming a Trustee?

Mona is an award-winning global social venture that highlights and invests in underrepresented entrepreneurs around the world, especially refugees, immigrant, and women entrepreneurs. Mona partners with Kiva U.S. to distribute zero-interest loans to its U.S.-based entrepreneurs in part through the "DreamxAmerica" initiative, which was launched in 2020 during the height of the COVID-19 pandemic.

What is the mission of your organization?

Excerpt from Forbes: “One award-winning social venture, Mona, is creating new opportunities for – and amplifying the stories of – [immigrant, refugee, and women entrepreneurs globally]. Mona means 'wish' in Arabic and is a multi-channel platform that connects underrepresented entrepreneurs across the globe with access to capital, distribution opportunities, product investment, marketing, and design support."

Borrower Due Diligence

How will you decide who to endorse as a borrower? What due diligence will you conduct?

Mona partners with small-business entrepreneurs closely. Each Mona entrepreneur seeking a Kiva loan goes through four steps to ensure viability and support during the Kiva application, fundraising, and repayment phases: 1) Mona Application and review for Pre-Approval/Endorsement: Each entrepreneur, either applying directly or referred through one of our local partners, completes the Mona application. A Mona team member reviews the application, considering the business and entrepreneur’s vision, goals, commitment, track record, and loan needs and proposed usage. If needed, the team member has a conversation with the entrepreneur to clarify elements of the application; 2) Kiva Application Support: Once an entrepreneur is pre-approved by Mona, the assigned Mona team member helps edit and refine the entrepreneur’s Kiva page narratives (Tagline, Personal Story, Business Story, Proposed Loan Usage) and guides the entrepreneur through the Kiva application, answering any questions or requests for support promptly; 3) Fundraising: Mona helps ensure its pre-approved/endorsed Kiva campaigns are fully funded, leaning on the organization’s digital reach and network of supporters; and 4) Social Media: Finally, as part of its ongoing storytelling initiative, Mona shares posts highlighting the entrepreneur’s story on its social media pages in particular focusing on uplifting the entrepreneur’s voice through her original quotes.