NORTHWEST ARKANSAS (KNWA/KFTA) — The Startup Junkie Foundation announced in a press release Tuesday that it will be expanding its Kiva offerings in Northwest Arkansas to help small business owners access much-needed capital during the COVID-19 crisis.
The Kiva program will be receiving an additional $450,000 in matching no-fee, no-interests loan funds that will be dispersed to newly approved small business owners in Washington and Benton counties that have been hit hard by the pandemic. Approved borrowers looking for capital to react or recover from COVID-19 will be able to have up to 75 percent of their loan matched by these additional funds.
“Over the last few weeks, we have been working daily to establish this new loan matching fund so our struggling small business owners can quickly access the capital they so desperately need,” said Martha Londagin, NWA Kiva Hub Capital Access Manager.
Launched in December by Startup Junkie, the NWA Kiva Hub is a resource by which small business owners can obtain no-fee, no-interest microloans of up to $10,000 from a community of local and national lenders.