Mindblower.com Disrupts the Crowdfunding World with Zero-Risk Crowdfunding Platform

Now anyone can crowdfund their business ideas and make money with no risk while crowdfunding backers get the perk they paid for — or their money back

By Robert Hoskins, Crowdfunding PR

London, UK – Since the dawn of crowdfunding there has been a struggle for inventors and dreamers to come up with the right crowdfunding success formula to hit their funding goal and turn their vision into a delivered product. Risking their money on developing a prototype, shooting the project video, marketing and public relations and all of the other expenses and effort necessary to launch a crowdfunding campaign — if they even get that far – comes with no assurances of success.

MindBlower.com Disrupts the Crowdfunding World with New Zero-Risk Crowdfunding Platform

Crowdfunding backers have their own risks to worry about. Projects like the Coolest Cooler, the Laser Razor, the Zano drone, Dragonfly Futurefon and so many other campaigns that promised incredible things failed to deliver on time — if at all — leaving backers high and dry. Years on, thousands of people have yet to receive the product they paid for or their money back.

There’s no question that crowdfunding has been a risky business for all concerned… until now.

That’s because MindBlower.com takes all of the risk out of crowdfunding for the backer and the would-be business person by assuming all of the responsibility in handling all of the details of production and fulfillment.

Ideas submitted to MindBlower by inventors undergo a double screening process and the best ideas are selected based on feasibility to produce, market viability and other key factors.

Ideas accepted by MindBlower are turned into crowdfunding campaigns on the MindBlower platform. Once the product reaches its crowdfunding goal, the MindBlower team is in charge of production and fulfillment, the single biggest point of failure for crowdfunding campaigns after they reach their goal.

The inventor receives a royalty on every product sold and the backer enjoys the peace of mind of a money back guarantee if they don’t receive the perk they purchased.

At the end of the day, inventors and backers have ZERO financial risk and inventors don’t have to exhaust their own resources in developing their ideas.

As they are fond of saying “It’s how crowdfunding was meant to be: A seamless, transparent and extremely efficient process that enables dreamers to bring great ideas to life with the help of the community.”

Two campaigns are underway and are wildly successful in exceeding their crowdfunding goals with new campaigns lined up to launch within the next 30-45 days.

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Robert Hoskins
(512) 627-6622
@Crowdfunding_PR

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Mr. Robert Hoskins is a seasoned marketing veteran with a proven track record of helping entrepreneurs, startups, small businesses as well as Fortune 500 corporations launch successful marketing communications campaigns to gain market traction for a wide variety of products and services.

On a regular basis, Mr. Hoskins consults with crowdfunding campaign managers as well as crowdfunding sites, portals and platforms to deliver successful crowdfunding marketing campaigns.

Google search “Robert Hoskins Crowdfunding” to see why Mr. Hoskins runs one of the industry’s foremost crowdfunding PR, social media and marketing agencies that has amassed a huge social media following and is dedicated to supporting a wide variety of donation, rewards and equity crowdfunding campaigns.

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LoanDepot Announces Closing of $150M Crowdlending Fund to Further Fuel Its Record-breaking Performance with Investments in Technology and Product Development Projects

As a national marketplace lender, the loanDepot platform is disrupting finance by dissolving the lines between mortgage and non-mortgage credit

By Robert Hoskins

Irvine, California – LoanDepot announced the closing of $150 million in term debt financing and intends to use the proceeds to further fuel its record-breaking performance with continued investments in technology and product development, and to leverage its balance sheet to hold certain loan assets.

loanDepot matches borrowers through technology and high-touch customer care with the credit they need to fuel their lives

“Capital investment in consumer lending and in the mortgage industry is very tight and highly selective,” says Anthony Hsieh, chairman and chief executive officer at loanDepot. “Investors are interested in category leaders with scale who succeed in all credit cycles. This deal confirms the strength of our business model and the positive momentum of our brand. It also signals the competitive advantage loanDepot has in accessing capital in today’s market as we pursue our long-term growth strategy.”

As the nation’s second-largest nonbank consumer lender, loanDepot heads into the second half of 2016 with second-quarter fundings reaching nearly $10 billion in home, personal and home equity loans. Total fundings for the first half of 2016 are up 16 percent compared to the same time last year. The number of loans funded by loanDepot in the first six months of 2016 increased by 33 percent compared to the same period last year, further demonstrating the value of the company’s personal loan platform and cross-selling opportunities between loan products.

“Working capital and liquidity are essential for today’s nonbank lender, and only available if you have scale, a solid track record and a great reputation,” says Hsieh. “loanDepot is a strong and stable company responsible to our customers, employees and shareholders. We’ll continue reinvesting back into our platform in a variety of ways, including technology, the customer experience and product development. We believe this approach strengthens our position as the leading modern lender as the industry heads into the next generation of lending.”

In November 2015, the company postponed its initial public offering. This capital debt financing is the continuation of its capital strategy and commitment to pursue long- term growth plans.

Launched in 2010, loanDepot has achieved 80 percent year-over-year average annual growth from 2010 to 2015. The company continues to make significant reinvestments into its proprietary technology and marketing platform, credit and risk models, and product delivery systems.  The company operates from eight business centers and 150+ loan stores across the nation. loanDepot was the first nonbank consumer lender to offer home, personal and home equity loan products nationwide.

loanDepot matches borrowers through technology and high-touch customer care with the credit they need to fuel their lives. As a fast-growing national marketplace lender, the loanDepot platform is disrupting finance by dissolving the lines between mortgage and non-mortgage credit.

The company has funded over $70 billion in loans since inception. loanDepot is passionate about emerging financial technology and dynamic product delivery supported by excellent customer service to empower consumers.

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Crowdfunding PR Seeks Equity-based and Rewards-based Crowdfunding Sites to Add to Its Top 100 Crowdfunding List

Add Your Site to Our 2016 Top 100 List

Do you know of a new crowdfunding site that has been launched in the last 12 to 24 months? If so, we want to know the company name and what URL we should review for our Top 100 Crowdfunding Sites list.

Either follow us on Twitter @Crowdfunding_PR or connect with us on Linkedin at https://www.linkedin.com/in/roberthoskins and then share the information you’d like to add to any of our lists.

Is your crowdfunding site listed?

• 2015 Top 100 Crowdfunding Sites
• Top 10 Equity Crowdfunding Sites
• Top 10 Real Estate Crowdfunding Sites
• Top 10 Rewards/Perks Crowdfunding
• Top 10 Donation Crowdfunding Sites
• Top 10 Texas Crowdfunding Sites
• Top 10 College/University Crowdfunding Sites

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Wells Fargo Announces Four-Point Plan to Expand Credit Coaching Programs and Offer $75 Million in Investments, Grants and Micro-Lending for Small Businesses in the U.S.

To help business owners learn how to obtain credit, as well as better understand the reasons for a decline and learn how to prepare to reapply, Wells Fargo has launched a new Credit Coaching program

  By Robert Hoskins

San Francisco, California – To gain more insight into the experiences of diverse business owners in the areas of lending and operating their businesses, Wells Fargo commissioned Gallup to conduct a national study of small business owners. Today, as Gallup releases the findings (on Gallup.com), Wells Fargo is announcing a four-point plan to address needs identified in the study. The plan will help more diverse small businesses become credit-ready and gain access to credit. The Gallup survey included findings of business owners in six segments – African American, Asian American, Hispanic, LGBT (Lesbian, Gay, Bisexual and Transgender), military veteran, and women.

Please click on this banner to vote yes for Crowdfunding PR’s business plan to open up Crowdfunding Training Facilities nationwide in tandem with co-working spaces, incubators and accelerators

“Serving diverse communities has long been a focus area and priority for Wells Fargo, yet we know there’s more work to be done, and it starts with gaining a deeper understanding of the experiences of diverse small business owners working with financial institutions,” said Lisa Stevens, head of Small Business for Wells Fargo. “For this reason, we commissioned the Gallup study, which gave us new insight into the perceptions and experiences of diverse business owners working with banks, and how we can improve as a company and as an industry.”

Overall, the national study revealed there are more similarities than differences between small business owners in all diverse segments and those in the general population. It also shows specific areas in which the financial services industry can provide more support for diverse business owners.

Credit Coaching Program

In the Gallup survey, diverse-owned small businesses were more likely to respond that they have been declined for business credit – about one in five African American, Asian and Hispanic business owners said they faced a credit decline in the past (14 percent of general market respondents said they faced a decline). After being declined, a higher percentage of African American business owners (64 percent) said they did not apply for credit again than their peers in the general small business population (47 percent). African American (14 percent) and LGBT (15 percent) business owners also reported greater personal credit challenges than the general market (5 percent).

To help business owners learn how to obtain credit, as well as better understand the reasons for a decline and learn how to prepare to reapply, Wells Fargo has launched an enhanced Credit Coaching program. It offers expanded support to business owners who have been declined business credit. The phone-based program has been rolled out to small business owners who apply for Wells Fargo Business Direct credit products (primarily credit products under $100,000 sold through its retail banking stores). Business owners who use the program will be connected with a credit specialist who will review the business’ credit profile, explain why the business was declined credit, and share resources that can help the business strengthen its credit profile and improve the likelihood of being approved for business credit in the future.

In addition, while the majority of business owners surveyed across all segments said they did not feel a perception of discrimination from a financial institution impacted their chances of obtaining business credit, 22 percent of African American and 11 percent of LGBT business owners reported that perceived discrimination impacted their chances of obtaining credit for their business, compared to 5 percent of the general small business owner population. The Credit Coaching initiative will be one way Wells Fargo will further increase transparency of credit decisions and facilitate conversations that build trust with all customers.

“We take pride in the fact that diversity and inclusion has long been one of our core values in every aspect of our business, and at every level of our organization,” said Stevens. “We want to make sure all customers feel welcome, respected, understood, valued and appreciated. The actions we’re introducing today are the next steps for Wells Fargo to better serve and connect with diverse-segment business owners.”

Community Development Financial Institutions Investments, Grants

Another key finding in the Gallup study is that African American, Asian and Hispanic small business owners are more likely to be in the start-up and growing stages of their business, compared to the small business population in general, and as a result may not qualify for many conventional bank loan products. In addition, 49 percent of African American-, 47 percent of women- and 45 percent of LGBT-owned businesses in the survey reported annual business revenue of less than $50,000, compared to 36 percent of small business owners in general.

To help newer, smaller and start-up businesses access the appropriate business financing and support they need, Wells Fargo will extend $50 million in investments and $25 million in grants to organizations called Community Development Financial Institutions (CDFIs) that serve small businesses and entrepreneurs. The investments and grants will be directed to CDFIs that help small businesses get started and established by providing flexible capital and technical assistance. Wells Fargo will work with existing and new CDFI customers in diverse communities across the country to deploy this capital and measure its impact.

“We know that in order to address the range of financial needs within all of our communities, we need to support and work with the ecosystem of organizations that serve small businesses,” said Jon Campbell, executive vice president, government and community relations for Wells Fargo. “Through this increased investment and connections with community lending organizations, we are making meaningful strides toward increasing access to capital for small businesses, as well as helping more business owners get the coaching and educational resources they need to succeed financially long-term.”

Nationwide Referral Network

In the Gallup study, more African American, Asian and Hispanic business owners reported they were unable to obtain all the credit they needed in the past year than the general business owner population, yet the majority of small business owners in all diverse segments said they did not need credit in the last year. At the same time, nearly one in four African American, Hispanic and Asian business owners plans to apply for credit in the next 12 months, higher than the general small business owner population planning to pursue credit (15 percent). Businesses in the startup and growing phases in general expressed more intentions to apply for new credit.

To ensure business owners are aware of and accessing the full range of financing options available to them, Wells Fargo recently established referral relationships with more than 20 nonprofits and other lenders in cities across the country that are participating in the U.S. Small Business Administration’s (SBA) Community Advantage program. Participants in the SBA’s program specialize in providing hands-on guidance to small businesses and offering credit to qualifying businesses in underserved markets. Wells Fargo, the nation’s No. 1 SBA lender 7(a) in dollar volume for six consecutive years (U.S. SBA data, federal fiscal years 2009-2014), established these relationships with the intent of providing small business owners with an additional financing solution that may better meet their lending needs.

Chamber Training Institute

On the topic of business education, the Gallup study showed that African American, Asian and Hispanic business owners were more likely than business owners in the general population to be extremely or very interested in learning how to build a strong business credit application, choose a credit product, and develop a business plan. To meet this demand, Wells Fargo is supporting a Chamber Training Institute that trains leaders of diverse-segment chambers of commerce on key business and leadership topics for their members, such as how to access business credit and craft strong business plans. This cross-chamber initiative builds on Wells Fargo’s strong working relationships with chambers nationwide that specifically serve and represent African American, Hispanic, Asian American and LGBT business owner interests.

“There’s no single answer to the challenges reflected in the study, just as the challenges facing all diverse-owned businesses are broader than any one financial institution can address,” Stevens said. “As America’s leading small business lender, we have a responsibility to do more. We believe the steps we’re taking will make a difference, help us foster more lifelong relationships, and move us closer to our goal of helping every business we serve succeed financially. We want to contribute to a national conversation, involving the public and private sector, industry stakeholders and small business owners, about how to better support small businesses in every community.”

Additional Gallup study findings

Other key findings in Gallup’s industry study included:

• Only about half of small business owners say they have ever borrowed money for their business, including the general population of small business owners (50 percent), Asian (53 percent) and Hispanic (51 percent) segments, while the percentage of African American business owners who have used credit (42 percent) is somewhat lower.
• African American (21 percent) and Hispanic (18 percent) business owners were more likely than their counterparts in the general population (10 percent) to be in the startup phase.
• Nearly half of Asian-owned business owners (49 percent) said they were in the growing phase of their business, a higher percentage than the general population of small business owners (37 percent). Also, 38 percent of Asian-owned businesses reported annual revenue of $250,000 or more, compared to 22 percent of businesses overall.
• A higher proportion of veteran-owned businesses (24 percent) reported being in the winding down phase – preparing to retire, sell or transition their businesses – than small business owners in general (15 percent).
• Just 9 percent of women business owners reported plans to apply for new credit in the next 12 months, compared with 20 percent of men surveyed.

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Leading Lending-Based Crowdfunding Site Elects Krista Morgan as New Chief Executive Officer

G. Krista Morgan elected by the P2Bi Board of Directors to become the next CEO of the Denver-based crowdfunding platform for business lending

By Robert Hoskins

Denver, CO – P2Binvestor (P2Bi) announced that cofounder Bruce Morgan stepped down as CEO at the Denver-based financial technology company to take the position of executive vice chairman on its board. Cofounder and former President G. Krista Morgan was elected by the P2Bi Board of Directors to become the next CEO effective January 5, 2015. The father-daughter team cofounded P2Bi in 2012, developed a crowdfunding platform to deliver working capital to growing businesses, and started lending in early 2014.

Krista Morgan Named CEO of Commercial Crowdlending Company P2Binvestor based in Denver, CO

By combining technology with crowdsourcing, P2Bi simplifies lending and provides efficient and competitively priced growth capital to small and midsize businesses. The company offers receivables financing, an asset-backed line of credit, working capital secured by contractual future revenue (designed especially for SaaS companies), and purchase order financing.

P2Bi has the capacity to consider multi-million dollar credit lines and lends to U.S. companies in various industries including technology, energy, personnel services, natural foods and beverages, manufacturing, and more. P2Bi’s investor crowd is limited to accredited investor participation. Learn more at P2Bi.com.

“The tremendous growth of P2Binvestor is in large part due to Krista’s diligence in building a new and different company with a competitive product, a superior culture, and an inherent focus on customers,” said John Spiers, P2Bi’s chairman. “She is a natural entrepreneur and leader, and her innovative ideas, energy, commitment to transparency, and passion for helping small businesses grow are unparalleled.”

Krista is a proven executive in alternative finance while also being one of the youngest women in a leadership position in the industry. She left an agency career in digital marketing in London to cofound P2Bi in Colorado in 2012. Since signing the company’s first client in May 2014, she has grown P2Bi’s commercial loan portfolio to $12.5 million, representing 30% month-over-month growth. P2Bi uses invoices to secure most credit lines and in just seven months’ time purchased more than $37 million in invoices.

“Over the past three years, Krista has demonstrated her leadership and strategic skills as she created a strong brand and broad market appeal for P2Bi,” said Bruce Morgan, former CEO and now executive vice chairman of P2Bi. “She created a modern crowdfunding approach to working-capital financing that appeals to a diverse generation of entrepreneurs who aren’t typical users of alternative finance.”

Krista was a key driver in establishing P2Bi’s customer-friendly policies, such as eliminating monthly minimums, minimizing transaction costs for clients, and implementing daily clearing of client accounts to improve their cash flow. She also created a rate-guarantee policy that allows clients to cancel their contracts with P2Bi without penalty if they find less-expensive financing. Krista felt policies like the rate guarantee would make it easier for P2Bi to build mutually beneficial alignment with its banking partners while meeting the needs of its fast-growing business clients.

“We view it as a mark of success when our customers are offered a line of credit at a great rate with a bank. Our financing is designed to be a bridge that supports businesses through a high-growth phase on their way to being bankable,” Krista said. “We pride ourselves in giving our clients as much capital as they need to grow at the most competitive rates with the best service. We want to be a great lending partner for as long as it makes sense.”

Under Krista’s operational leadership, P2Bi transformed from a startup into a revenue-producing player in the alternative-lending and crowdfunding industries. With news of the recent Lending Club IPO, P2Bi is attracting more interest from businesses, investors, and others in the industry.

“My goal as CEO is to put our customers—both businesses and investors—at the center of every decision we make and position P2Bi for long-term success. I want to make P2Bi a company that businesses think of first when they need a flexible, affordable source of working capital and one that accredited investors think of first when they want an alternative investment vehicle that offers fair returns and good liquidity,” Krista said. “I’m honored to be leading an incredible team into the next phase of our company’s growth.”

As executive vice chairman, outgoing CEO Bruce Morgan will remain an active part of the management team and will be responsible for managing relationships with fund managers and leading the company’s credit underwriting function.

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CrowdShed to Open New Equity Crowdfunding Site in London

According to the Nesta/Cambridge University UK Alternative Finance Industry report equity crowdfunding has grown by over 410% in 2014 in the United Kingdom

By Robert Hoskins

London, UK – CrowdShed will offer rewards, lending and donation-based crowdfunding opportunities, focused on creative, academic, charity and cause-based projects. Equity funding will be added in 2015, with an ethos of making business better.   CrowdShed is set to challenge the established crowdfunding model and redefine how people find their funding and fund something new. With the backing of GLI Finance Crowdshed.com is now well placed to launch in Q3, 2014.

Crowdshed to Open New Equity Crowdfunding Site in London

Crowdfunding is a nascent industry already dominated by a few key players, each with a niche business model concentrating around one specific area of crowdfunding. CrowdShed is different, creating a holistic environment that offers funders and fund-seekers the widest opportunity to create and locate the project that’s perfect for them.

This multifaceted approach offers unrivaled scope to introduce like-minded funders and fund-seekers – people who might not have connected except through CrowdShed. The equity crowdfunding site is also creating a real-world space to bring funders and fund-seekers together to work, grow ideas, find inspiration and hold events, informative SHEDtalks, and Q&A sessions.

CrowdShed received significant seed investment from GLI Finance Limited (GLIF), the London Stock Exchange listed specialist provider of finance to small and medium sized enterprises.

Geoff Miller, CEO of GLI Finance, said, “This exciting partnership continues the extension of our platforms and compliments and diversifies our exposure to the crowdfunding space, as CrowdShed will provide rewards, lending and donation-based crowdfunding opportunities as well as SME Finance.

CrowdShed is well positioned to become a leading player in Europe within this space and we are delighted they have chosen to partner with us. We look forward to building our partnership with them.”

Henry Freeman, CrowdShed CEO, stated, “It’s great that GLIF recognizes the inherent opportunity and growth potential of crowdfunding as a real alternative to traditional investment and fundraising channels. CrowdShed is democratizing the crowdfunding process for all and contributing not only to better business but also to the good of society as a whole. We don|t believe that concepts like fiscal success and social, corporate or environmental responsibility are mutually exclusive. The crowd is sustainable, carries momentum easily, is self-supporting and self-perpetuating, and has the power to affect change for the good. This is the heart of what we do at CrowdShed.”

Statistics for the crowdfunding market tell of rapid and continuing growth with an estimated global value of $5.1 billion for 2013, up 89% on 2012. Europe accounts for 35% of the market share with $945 million raised, up 65% on 2012. Growth in the US market was bigger still, up 105% to a total of $1.6 billion.

This driver of finance from wealthy and high net worth individuals is supported by recent research from the Nesta/Cambridge University Report into alternative finance which forecasts that the alternative finance market, comprising the entire crowdfunding industry in the UK, is expected to grow to £1.74bn by the end of 2014 with further projected growth to around £4.4bn in 2015.

According to the Nesta/Cambridge University UK Alternative Finance Industry report, released Monday 10 November, equity crowdfunding has grown by over 410% in 2014.

Dermot Finch of the Prince’s Trust admitted that crowdfunding is something the Trust is exploring, working with CrowdShed to help young people fund the business initiatives they’re developing. He pointed out that, “We’re helping lots of youngsters get back on their feet and trying to give them the confidence to follow their own business ideas and crowdfunding is the ideal source of capital for their ventures, combining a blend of equity and donor capital.”

The ideas that Kenyon developed whilst running his crowdfunding campaign – creative marketing, strong social media messaging, building up momentum quickly – clearly worked and in fact the Nesta report confirms that these are the types of qualities needed to deliver a successful crowdfunding campaign.

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Mosaic Announces $100 Million Investment Facility with PartnerReGlobal

Financial Services Company to Provide Institutional Investment and Support Mosaic’s Rapid Growth in Home Solar Loans

By Robert Hoskins

Oakland, California – Mosaic Solar, a peer-to-peer solar finance company, announced that an affiliate of global reinsurer PartnerRe Ltd. (NYSE:  PRE) will provide up to $100 million in financing for Mosaic’s home solar loan program.

Under the terms of the facility, PartnerRe will finance the purchase of loans originated by Mosaic. The company also expects to continue to grow its successful peer-to-peer lending platform, which has already seen thousands of investors join the Mosaic community.

“Mosaic’s superior loan terms, user-friendly borrowing experience, and recent expansion into several new states throughout the U.S. have resulted in accelerating demand for capital sourcing for our homeowner loans beyond traditional crowdfunding,” said Bruce Ledesma, Mosaic’s Chief Operating Officer.  “We are thrilled to work with an experienced investment team to expand the availability of our lending capacity to solar installers and their customers throughout the country.”

“Mosaic has successfully created innovative loan products and technology-driven origination processes,” said David Moran, President of PartnerRe Principal Finance Inc.  “PartnerRe is impressed with the quality of consumer loans in Mosaic’s portfolio.  We look forward to beginning our financing arrangement and facilitating greater access to capital for the solar market consistent with our investment objectives.”

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Capital One Bank Gets into the Crowdfunding Business with Kiva Microlending Platform

By Robert Hoskins

Capital One announced that it will expand its “Investing for Good” partnership with Kiva by providing $500,000 to match loans made to U.S. small businesses on Kiva’s crowdfunding platform, helping entrepreneurs across the country with additional funding to start, sustain and grow their businesses.

Capital One to Match up to                                           $500,000 of Kiva Microloans

Kiva is a non-profit organization working to alleviate poverty by connecting people around the world through microlending. With as little as a $25 loan, anyone can help a borrower create new opportunities for themselves and their family. Together with more than 890,000 Kiva lenders and a worldwide network of microfinance institutions, Kiva has created economic opportunity for more than 975,000 borrowers. Since its inception in 2005, Kiva lenders have funded more than $390 million in loans with a 98.9% repayment rate.

A single loan, a single business or a single job can change the trajectory of families, communities, and cities. Now, with Capital One’s support, the amount donors lend will be matched and small business owners across the U.S. will be that much closer to realizing their dream.

Through Kiva’s proven microlending model, anyone with an Internet connection and $25 can help crowdfund a loan to a small business owner profiled on kiva.org. Since 2005, Kiva has crowdfunded more than $400 million in microloans by connecting a growing global community of 890,000 lenders to 975,000 entrepreneurs from five continents. In June 2010, Kiva opened up their crowdfunding platform to U.S. small business owners and aspiring entrepreneurs in several cities, including New Orleans, Detroit, Los Angeles and D.C. Now, with the support of Capital One, Kiva is bringing its popular microlending model to reach more entrepreneurs across the country.

“Small businesses are the engine of our economy, as they do well it has a ripple effect on local economies – jobs are created and communities are strengthened. Kiva helps make an important connection between local businesses and the people they serve, giving local community members a vested interest in business success,” said Jonathan W. Witter, President of Retail and Direct Bank, Capital One. “At Capital One, we’re committed to helping aspiring entrepreneurs and small businesses of every size grow and thrive – whether it’s directly through our products and services, or through innovative partnerships and digital channels like Kiva.org.”

Capital One’s support of Kiva’s work in the U.S. and small businesses builds on the successful launch of Kiva City D.C. in January. Kiva City D.C. is a new partnership between Capital One, Kiva and the Latino Economic Development Center (LEDC). Through this partnership, LEDC identifies entrepreneurs in the D.C. area who can benefit from a microloan, posts their profiles on kiva.org and administers the loan program. Since the launch just six weeks ago, nine local businesses in our nation’s capitol have received funding from more than 1,000 lenders and Capital One through Kiva City D.C.

“If the money stored in our wallets was given a new life for a short amount of time, as a loan to a small business owner, each of us could help to shape the course and success of the economy,” said Premal Shah, President of Kiva. “A single loan, a single business or a single job can change the trajectory of families, communities, and cities. Now, with Capital One’s support, the amount you lend will be matched and small business owners across the U.S. will be that much closer to realizing their dream.”

According to the Small Business Administration, small businesses create two out of three net new jobs in the U.S. over the last 17 years.

Over the past seven years, Kiva has helped to mainstream microlending and pioneered the field of crowdfunding. Capital One is also driving new innovations at Kiva through its support of Kiva Zip, a pilot program that aims to expand access to capital for entrepreneurs, lower costs of capital, and increase connections between lenders and borrowers. Through Kiva Zip, even individuals and organizations without loan programs can help bring borrowers onto zip.kiva.org to be crowdfunded.

Through Kiva’s proven crowdfunding model, anyone can go to kiva.org or zip.kiva.org and browse through profiles and stories of people in need of a microloan and choose someone to lend as little as $25. With a 98% repayment rate, the money that is lent to a small business owner is truly a loan, not a donation. Every dollar helps to crowdfund that business’ microloan, which in turn helps to support thriving local economies, communities and jobs.