October 25, 2016- (Naples, Florida) – Fifth Third Bank Florida has awarded a $10,000 grant to the Women’s Foundation of Southwest Florida. The grant will support efforts to boost entrepreneurship and improve the economic power of Southwest Florida women. It also increases the Women’s Foundation’s revolving fund for Kiva U.S loans. Kiva.org is a global crowd funding platform for business capital. The loans allow female entrepreneurs access the capital they need to launch or grow their business.
“The Bank is intensely focused on improving customers’ lives and making a difference in the communities we serve. We believe that lives are improved when individuals have the tools and knowledge they need to successfully manage their finances. We are delighted to support an organization who shares the same goal. This program allows women entrepreneurs the opportunity to achieve success in growing their business, “ said Jadira Hoptry, Vice President and Community Economic Development Manager for Fifth Third Bank.
Character Over Credit
Building business credit presents a challenge for women-owned businesses who might not have collateral or a good credit score. Kiva U.S. eliminates that barrier by focusing on the borrower’s character and confidence in her business plan. Business owners who are approved into the Kiva U.S. crowdfunding platform must secure the support of five to 30 friends, family members, colleagues or customers who are willing to lend at least $25 towards their loan during a private fundraising period. Once the support of friends and family is secured, entrepreneurs can begin publicly fundraising from KIVA’s network of over one million lenders. The Women’s Foundation of Southwest Florida will provide loan funds for up to one-third of the borrower’s balance. Southwest Florida business owners can now apply for loans of up to $10,000 with 0% interest and 36 months to repay.
For more information, visit http://www.fundwomenfl.org or email contact@FundWomenFL.org. Follow The Women’s Foundation online at http://facebook.com/WomensFundFL and on http://twitter.com/WomensFundFL.