Kiva + Bridgeway Capital “Small Business Boost”

Kiva Pittsburgh

January 1, 2022
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Since the Kiva Pittsburgh initiative launched, over $2 million in interest-free Kiva micro-loans have supported businesses in the Pittsburgh region.  These loans went to businesses that may not have otherwise had access to capital to launch or grow,  many of which were new businesses and/or owned by individuals from disadvantaged groups (63% women & 62% minorities).  Riverside Center for Innovation is proud to work with Kiva to bring dollars to the Pittsburgh economy and investment to these local businesses, and we look forward to the next million!  


Click through the slides to discover the Kiva stories of six entrepreneurs whose first loans helped us to reach the $2 million mark and crowdfunded a second loan in the last month, kicking off our journey to the next million!

Kiva + Bridgeway Capital “Small Business Boost”

In conjunction with Kiva Pittsburgh’s $2MM lending milestone, Bridgeway and Kiva are partnering to support a cohort of 22 former Kiva borrowers to provide business assistance services. The cohort will receive various business assistance support including up to 10 hours of services in the areas of legal, financial, strategy, marketing, HR and more.

Participating businesses will gain access to a new innovative business model assessment tool, created by Sustainible, a local tech startup. With their tailored customized service plan, catered to their needs, each business will be assigned applicable specialized consultants in various fields to expand their business’ capacity. Cohort members will also have access to virtual group sessions on various business development topics.

In addition to the aforementioned services, the cohort will be introduced to Bridgeway’s lending process, exploring capital options for potential expansion. Businesses may graduate from the program being positioned to apply for Bridgeway’s larger loans when they are ready.

Program timeline:

  • Feb 8, 2022 @ 6pm: Recruitment Info Session. Click to sign-up.
  • February 1 – 21, 2022: Application Window Rolling Program Acceptance
  • Evaluation date 1: Feb 11, 2022
  • Evaluation date 2: Feb 21, 2022
  • February 15 – March 4, 2022: One 1-hour onboarding meeting
  • After Onboarding – April 29, 2022: Consultant Connections for Business Assistance
  • March 15, 2022 – Virtual Group Session 1 Topic TBD* (Optional, but encouraged)
  • April 5, 2022 - Virtual Group Session 2 Topic TBD* (Optional, but encouraged)
  • April 19, 2022 - Virtual Group Session 3 Topic TBD* (Optional, but encouraged)

* Topics will be determined by priority areas identified in assessment plans. Group sessions will also be a great opportunity for owners to network and learn from one another.

Program Eligibility:

  • Has received a Kiva loan
  • Business is currently based in Western Pennsylvania

Selection Considerations:

  • Business owner is a member of a disadvantaged group: Minority, women, and/or veteran-owned businesses and/or entrepreneurs
  • Business is operating in a low- to moderate-income area
  • Business will benefit from receiving technical assistance in the available areas (legal, HR, strategy, marketing, and financial)

Application Link: https://docs.google.com/forms/d/1CXNOplmnfyXszwqPk6uh5b1KxcqxWLhSF622uCoNp7w/edit?ts=61e9bc14

If you have any questions about the program, please contact Emily Keebler [email protected]



Partners

Riverside Center for Innovation is a Pittsburgh-based nonprofit organization with a
mission to engage in activities that cultivate a healthy environment for the region’s
diverse entrepreneurs and small businesses to prosper.
www.riversidecenterforinnovation.com




Bridgeway Capital is a Pittsburgh-based nonprofit organization with a mission to combat
injustices and advance opportunities by building capacity, investing capital, and
developing underserved areas to grow businesses and revitalize places.
www.bridgewaycapital.org



Sustainible is a Pittsburgh-based tech start-up with a mission to contribute to economic,
community, and entrepreneurial growth by fostering the likelihood of business success.
sustainible.io



Neighborhood Allies
Invest PGH
H2R CPA
Bridgeway Capital
Allegheny County Economic Development

Kiva Pittsburgh

February 1, 2022

Riverside Center for Innovation manages Kiva Pittsburgh, the Kiva Hub for the Pittsburgh region.  Working with Kiva, an international nonprofit organization, RCI helps entrepreneurs to access affordable and flexible capital.

Read more
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