0% interest business loans up to $5,000

OK.  Now that I have your attention, there is a slight catch that I will get to in a minute.

Making it easier for small businesses and entrepreneurs to get access to the money they need to develop and grow has been an on-going effort for me and the South Carolina Small Business Chamber for the past 4 years.

Tomorrow at lunch I will be recognized by the Small Business Administration as the “2014 South Carolina Small Business Financing Advocate of the Year”.  I am very appreciative of the SBA and especially Anna Huntley for this recognition for my work and the building SCcrowdfund.com, a statewide small business portal for donation crowdfunding and private placement investment.  The effort is still a work in progress.

And there are other access to capital vehicles being developed.  A Palmetto Angel Fund was just announced this week that “aimed at high-growth, early-stage companies around the Southeast.”

Then this popped into my inbox yesterday.  Kiva Zip is a pilot project out of San Francisco that has created a website to match small businesses seeking microloans with lenders asking for no more than a payback of the principle on the loan.

The Kiva Zip loans can be for no more than $5,000 and the borrower must be endorsed by a “trustee” who vouches for their character and business.  So who are the trustees you might ask?

Anyone or any organization can apparently be a “trustee” if they are willing to put their name and reputation on the line.  Kiva Zip is looking for more “trustees” and borrowers.

Kiva Zip can fill part of the small business access to capital niche but only a small part.  We need all hands on deck to make sure small businesses and entrepreneurs have access to the capital they need to build a sustainable economy from the ground up.

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