Imagine the perfect day for your business. It’s probably a warm, sunny one (or at least not raining). You’ve found the ideal spot – tons of people are walking by and nobody is hassling you about parking violations. Your food is on-point – your preparation went smoothly and you produced the perfect amount of food to meet demand. People are raving about your food: they’re writing reviews and checking in on the spot. It’s the type of day that fills you with pride as well as fills your tip jar.
Now imagine a day where things start to go wrong. The weather takes a turn for the worse, you end up leaving the kitchen late, you get stuck in traffic on the 5 and end up getting a spot with less foot traffic, you get a flat tire… The list goes on and on.
Running a mobile food business can be a stressful affair, especially when it comes to dealing with uncertainty.
It doesn’t have to be that way.
Hundreds of food entrepreneurs have found peace-of-mind by raising 0% interest capital for their businesses from Kiva, a nonprofit that supports U.S. entrepreneurs.
Since 2012, Kiva has helped over 1,000 food entrepreneurs in the U.S. raise nearly $6.5 million in funding – all without charging a single cent of interest or fees.
As a nonprofit, Kiva is dedicated to increasing access to capital for business owners who need it the most: people who are unable to raise money for their business from traditional sources, like banks.
With 8,000 small business loan applications rejected in the U.S. every day, more and more entrepreneurs are turning to alternative sources of financing, and Kiva is here to help.
Kiva is a crowdfunding platform like Indiegogo and Kickstarter, except instead of donations or purchases, the “crowd” makes 0% interest loans to entrepreneurs fundraising on the platform.
Kiva’s “crowd” is made up of 1.5 million supportive lenders around the world, many of whom lend locally and become business’ new customers, brand ambassadors and fans.
Like Indiegogo and Kickstarter, entrepreneurs create a campaign where they tell their story and why they’re raising money. Unlike Indiegogo and Kickstarter, entrepreneurs on Kiva have a 90% public funding success rate.
“Food entrepreneurs have a 97% public funding success rate on Kiva!”
Over the next few weeks, SeattleFoodTruck.com will post a series of articles about how a Kiva loan can support at different stages in a business’ lifecycle. These posts will be anchored in stories of real entrepreneurs, who have grown their business through Kiva.
These entrepreneurs are people like Chris & Tim founders of The Wine Nomad, who borrowed $6,000 to purchase equipment and inventory to kick-start their wine business; and Natasha, founder of Nectar Cafe, who borrowed $10,000 to expanded her food truck and catering business to a brick-and-mortar location in Portland.
More than just capital, Chris & Time and Natasha had 249 people from Kiva’s community lend to them! These entrepreneurs now have larger networks of people who believe in them and their businesses.
This is the power of Kiva. Kiva’s community of lenders truly believes in supporting U.S. small business owners and shows so by expecting only the money they lent in return for their investment.
Every business owner has off-days, and Kiva is here to help entrepreneurs realize more perfect ones.
Check in again next week for more, and to learn more about Kiva, visit borrow.kiva.org or email questions to firstname.lastname@example.org.