Akilah Young, owner of Canfield Cleaning Services
Kiva City makes 100th loan to Milwaukee entrepreneur
Milwaukee’s Kiva micro-loan program is celebrating an important milestone: its 100th loan to an entrepreneur. The 100th loan was made to Akilah Young, who owns Canfield Cleaning Services. She applied for a $2,000 loan, which was crowd-funded by lenders throughout the world within 48 hours. Ms. Young will use the loan to secure better marketing materials, buy equipment, and hire additional employees. You can learn more in this FOX 6 news story, aired November 29.
The 100 loans made since Milwaukee became a Kiva City in February 2015 have provided $533,000 in capital to entrepreneurs. Of the borrowers, 61 are in the city of Milwaukee, 77 are in the Milwaukee area, and 23 are in other parts of Wisconsin. The goal of the local program is to generate at least $1 million in loan capital to support at least 200 entrepreneurs by February 2018.