Several small businesses in the city of Rochester have received help from the Kiva program.
To date, 38 entrepreneurs have received more than $200,000 in crowdfunded, zero-interest microloans to help them start or expand their businesses.
Of the 38 entrepreneurs, 43 percent are woman-owned businesses and 76 percent are minority-owned. Three of the business owners are refugees or immigrants.
“James Brown, owner of James Brown’s Place, used Kiva to expand his restaurant,” said Deputy Mayor Cedric Alexander. “The Green House Cafe, one of the Coffee Connection Coffee Shops on North Winton Village has not only paid off its loan, but has received another.”
Elaine Weinzler Francesco, the owner of Flour City Coffee Company, turned her operation from a single table at the Public Market, to a much larger space, thanks to a $10,000 Kiva loan.
“Before I had a single counter, my products were stacked on in front of each other, two or three high,” said Weinzler Francesco. “Now I have the fabulous wall of coffee behind me here.”
Click here to learn more information on the Kiva program.