|Loan Amount||$25 - $20,000|
|APR||Starting at 0%|
|Loan Term (Months)||1 - 60|
Where does Kiva do business?
Kiva is a marketplace lender based in San Francisco, CA. It was founded in 2005 and offers access to business loans in 50 states (and Washington, DC).
What are Kiva’s rates?
Kiva offers business loans with fixed APRs starting from 0% .
Does Kiva charge an origination fee?
No, Kiva does not charge a loan origination fee. A loan origination fee is what some lenders charge for processing, underwriting, and funding a loan. Typically fees range from 0.5% to 5% of the loan amount. Whenever possible, go with lenders that don’t charge origination fees.
What limitations does Kiva set on the purpose of the loan?
Kiva considers loan applications for business purposes, such as:
- Equipment Purchase
- Lease Improvement
- New Location
- Product or Service Expansion
- Working capital
What types of business loans does Kiva offer?
Not all business loans are made equal. The type of loan you choose will determine the range of rates and terms you receive. Kiva provides access to the following business loan types:
- Unsecured term loans
- Lines of Credit
Does Kiva charge prepayment fees?
No, Kiva does not charge prepayment fees. This means you will not have to pay additional fees if you decide to pay the loan off early.
How much can you borrow from Kiva?Loan amounts start at $25 and go up to $20,000.
What is the maximum loan term you can get with Kiva?
Kiva offers business loans with terms ranging from 1 to 60 months. Having the option of longer terms allows borrowers to take on larger loan amounts while keeping monthly payments more affordable. However, the longer the term of your loan, the more interest you will pay.
What do you need to qualify for a loan with Kiva?
Applicants with a credit score of at least 300 can apply for a loan via Kiva. Kiva does not require borrowers to have been in business for a minimum number of years. Businesses don't have to meet a minimum annual revenue to be considered. To qualify, applicants may need to provide the following documentation:
- Proof of Identity
What is the estimated funding time for a business loan via Kiva?
Kiva can approve (or deny) a loan application within 360 hours and fund business loans within 1 business day of approval.
Does Kiva report loan payments to credit bureaus?
Kiva may report credit data to the following credit reporting agencies:
- Washington, DC
- New Hampshire
- New Jersey
- New Mexico
- New York
- North Carolina
- North Dakota
- Rhode Island
- South Carolina
- South Dakota
- West Virginia
|No Origination Fee|
|No Prepayment Fee|
|Origination Fee||Starting at 0%|
|Credit Score Range||
300 - 850
|Immigration Status Considered||
|Employment Statuses Considered||
|Minimum Months in Business||0|
|Verification Documents Required||
|Loan Amount||$25 - $20K|
|Loan Term (Months)||1 - 60|
|APR (Fixed APR)||Starting at 0%|