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Trustee: ICON CDC - The Los Angeles BusinessSource - South Valley Center
Panorama City, CA
Why are you interested in becoming a Trustee?
At ICON CDC we understand that Trustees play a vital role in micro-lending and the financial growth of communities. This is why ICON CDC is partnering with KIVA to provide entrepreneurs and small businesses the opportunity to receive micro loans, that otherwise wouldn't have been received through commercial lending.
ICON CDC provides small business development services to businesses and entrepreneurs located in the City of Los Angeles. Our services include: business plan formation, technical workshops, access to capital, and business growth strategies.
What is the mission of your organization?
Our mission is to empower residents and businesses of the San Fernando Valley through programs that support social, civic, and economic development.
Borrower Due Diligence
How will you decide who to endorse as a borrower? What due diligence will you conduct?
Before Staff endorses a borrower, Staff will have conducted a thorough consultation with the interested borrower. Staff will access the interested borrower for loan readiness, which may include a credit report review. In addition, staff will work together with the borrower to formulate a business plan (B.P.) and/or a projection income statement (P.I.S). The B.P. and P.I.S. are tools that will support borrowers business success.
About ICON CDC - The Los Angeles BusinessSource - South Valley Center
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.