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- James Beard
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Up to $10,000 for any business purpose
0% interest
Crowd-funded, no bank application
6-48 month repayment terms

Looking for a loan? Interested in no-interest?

Has the coming season got you thinking about bridge loans, operating loans, equipment purchases or infrastructure improvements that could make your coming season smoother and more profitable? A tractor, a walk-in cooler, a bulk grain order, early-season staffing that could help your farm grow, etc? Kiva.org allows loans up to $10,000. You can select a repayment period of 6-36 months as a first-time borrower, or up to 48 months for subsequent loans.

Don't have the time or the credit to apply for a bank loan?

Kiva does not follow typical bank financial underwriting – they are interested in how much local support you have.

Free help is available

MOFGA is a partner to facilitate connection to farmers who could benefit from non-traditional lending. We can also help to connect you with volunteer consultants to help you with your application.

For more information and direct support

MOFGA is a partner to facilitate connection to farmers who could benefit from non-traditional lending. We can also help to connect you with volunteer consultants to help you with your application.
E-mail:
dmacphee@mofga.org
Phone: (207) 568-6016

To get started on an application:
https://www.kiva.org/borrow/MOFGA

KIVA LOAN BASICS

Kiva does not follow typical bank financial underwriting – they are interested in how much local support you have. The Kiva loan application process is very simple. Though, free application assistance and advice is available if you want it. Farm loans are popular on the platform, so likelihood of funding success is high and turnaround quick.

STEP ONE – complete a loan application

Include a great picture of you on your farm and write a few paragraphs about your personal and business background, the purpose of your loan and include information on your social media presence. Make sure to notify a local Kiva Trustee (eg. Daniel MacPhee at MOFGA) so they can endorse your proposal. Kiva reviews your application. In most cases the loan is approved.

STEP TWO (1-15 days) – your Private Fundraising Period

You gather 10-25 friends and family to invest as little as $25 in you. Kiva gives you the number of local lenders they would like to see you get. Once you have gotten those – you then go into your Public Fundraising Period on the Kiva Public website.

STEP THREE (1-30 days) – your Public Fundraising Period

Your application goes live on Kiva’s website at Kiva.org. There, 1.5 million lenders from all over the world, are exposed to your story and are able to pledge their support to you. Many of these people will lend you as little as $25 but you will likely get 50-250 lenders.

STEP FOUR – Repayment Period

30 days after you receive your funds, you begin to make monthly loan payments. You receive the funding directly from Kiva.

QUESTIONS ?

Daniel MacPhee, MOFGA’s Educational Programs Director and Kiva Zip Trustee, is available to answer your questions and help you through the entire process.
E-mail:
dmacphee@mofga.org
Phone: (207) 568-6016

To get started on an application:
https://www.kiva.org/borrow/MOFGA


    

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