News Release - Kiva Rochester Tops $100K Milestone, Named “Key Market”

City of Rochester


News Release



(Friday, Jan. 27, 2017) — Mayor Lovely A. Warren announced today that Kiva US has facilitated more than $100,000 in microloans to more than a dozen Rochester small business owners in less than four months, surpassing a major milestone so quickly that the national crowd-funding platform has designated Rochester a “key market” in its national model.

“Kiva Rochester is exceeding expectations and grabbing the attention of Kiva’s national organization, further demonstrating the untapped potential of Rochester’s entrepreneurial spirit,” said Mayor Warren. “I am looking forward to helping more men and women in our city realize their dreams to start a business with Kiva loans and bring the jobs that come with them, Kiva Rochester is quickly living up to its promise and helping us create more jobs, safer more vibrant neighborhoods and better educational opportunities for our citizens.”

Katherine Lynch, Kiva New York City Director, stated: “Rochester is one of Kiva US' fastest growing markets. We're really excited about the momentum that Mayor Warren and her team have built, and even more excited about the amazing Rochester entrepreneurs that have already fully funded their loans.”

Rochester is one of eight cities to be named a key market by Kiva US, which means the national organization will increase its focus on Rochester and put more resources into the City’s program. This could result in loans being processed faster and more working capital getting into the hands of Rochester’s small business owners.

Since Kiva Rochester was launched in August, Kiva has facilitated more than $100,000 in zero percent interest loans to Rochester small business owners and entrepreneurs. These loans range from $1,000 to $10,000 and have supported more than a dozen small business owners in a wide range of industries, including fashion, restaurants, manufacturing and fitness.

To learn more about Kiva Rochester, visit www.cityofrochester.gov/Kiva.

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News Media: For more information, contact Press Officer Jessica Alaimo at 428-7135.