New Program Offers No Interest Loans to Small Businesses

by Kryistyna Hook

Help has arrived for local startups and entrepreneurs to boost their businesses with access to affordable capital. Better Business Bureau Serving the Pacific Southwest (BBB) has launched multiple Kiva Hubs, which provide no interest loans to small businesses unable to access traditional capital, serving Valley businesses and beyond.

With the success of the first Phoenix Kiva Hub, BBB expanded the program to additionally reach more rural areas in Arizona. Kiva pioneered personal microlending for low-income entrepreneurs and underserved communities by using a blend of community partners, municipalities and individual funders to offer financing with zero interest and no fees.

BBB has become the leader in igniting business growth by offering educational programming, mentorship, and access to online products. BBB’s Capital Access Manager is available to assist with the Kiva loan application, making the pathway more accessible for entrepreneurs.

Kiva loans offer financing from $1,000 to $15,000 with no interest or fees.

For more than 100 years, the Better Business Bureau has been helping people find businesses, brands and charities they can trust. In 2020, people turned to BBB more than 220 million times for BBB Business Profiles on 6.2 million businesses and Charity Reports on 11,000 charities, all available for free at BBB.org. The International Association of Better Business Bureaus is the umbrella organization for the local, independent BBBs in the United States, Canada and Mexico. Incorporated locally in 1938, BBB Serving the Pacific Southwest serves Greater Arizona and Southern California, providing critical tools to ignite success, including mentorship, online products and access to capital. Our objective expertise educates the community on ethical behavior in the marketplace and how businesses can build trust.

Kryistyna Hook is the director of media relations at Better Business Bureau Serving the Pacific Southwest.

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