Today, we’re proud to make the Yelp and Kiva partnership official. Together, we can help even more local businesses work towards their dreams. Since 2013, Yelp and Kiva have collaborated to provide small businesses with the capital and exposure they need to succeed.
As a leading nonprofit providing crowdfunded loans, Kiva gives small businesses in the U.S. access to 0% interest capital through “social underwriting.” When traditional lenders step back, everyday people can step forward to help independent businesses crowdfund loans in increments as small as $25 at Kiva.org/US.
Since its founding in 2004, Yelp has been connecting people with great local businesses. Yelp communities big and small have taken root across 32 countries. Yelpers have written more than 100 million reviews on everything from boutiques and mechanics to restaurants and dentists. We provide business owners with free tools to connect with their community so they can demonstrate what makes them a great local business in the digital market.
Yelp and Kiva are on the same page: we both want to help great small businesses grow!
That’s why we’re excited to announce that starting June 2016, Kiva is making it easier than ever for U.S. small businesses with Yelp pages to get the capital they need. Kiva can now prequalify borrowers with Yelp listings for larger loans and expedite their approvals.
Why? It’s simple: Kiva borrowers with Yelp pages have a proven track record and are more likely to succeed. Kiva-funded small business owners with a Yelp page have a 97% repayment rate, 10% higher than other U.S. businesses without a Yelp page.
Small business success is more than just money in the bank, though. Through this partnership, Yelp is providing Kiva borrowers with additional resources to succeed in the digital landscape. With customized training through hands-on workshops, webinars, and tailored blog posts, the Yelp team is empowering Kiva borrowers to enhance their online marketing presence and expand their customer base.
Since 2005, Kiva has funded more than 2 million entrepreneurs in 90 countries around the world with over $850 million in crowdfunded loans.
Check out us.kiva.org/yelp for more details on the partnership and how you can get involved.