Rural entrepreneurs in Central Arkansas will now have another source of potential funding.
Conductor is partnering with two organizations to provide entrepreneurs with increased access to loan capital. The Conway-headquartered organization is partnering with Rural Local Initiatives Support Corporation (LISC) and the Kiva Small Business lending program, and the organizations will provide 1:1 matched, zero percent interest loans to entrepreneurs in rural areas.
Under the new partnership, rural entrepreneurs will fundraise for half of their funding goal with Kiva, and LISC will match the amount. An entrepreneur seeking a $10,000 loan would fundraise $5,000 through Kiva and LISC would match that with another $5,0000 for the total $10,000.
Conductor will be serving as a LISC Trustee in the process and will be endorsing entrepreneurs to become eligible for the LISC program. They will also work with entrepreneurs on applications and shepherd them through the eligibility and fundraising process.
“Many of the business owners we work with identify access to capital as their biggest barrier to entrepreneurship,” Conductor Rural Director Tiffany Henry said in a statement. “Rural LISC’s generous 1:1 matching program, coupled with Kiva’s incredible 0% interest rate, is an amazing opportunity that comes at a pivotal time.”
Entrepreneurs in the Conductor’s 11 county service region are eligible to participate in the loan program. This service area includes Conway, Faulkner, Yell, Logan, Van Buren, Cleburne, Pope, Johnson, White, Lonoke, and Pulaski counties.
In addition, Kiva has an active presence in Northwest Arkansas, where Startup Junkie helps entrepreneurs secure funding through the Kiva process.