Can-Do Funding

KIVA Loans

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Microloans

Many entrepreneurs lack the startup capital they need to launch a successful food business. Traditional loans aren’t always accessible to those that need them most. That’s why we’ve decided to partner with Local Initiatives Support Corporation (LISC) and Michigan Women Forward to provide short-term, fixed rate, low-interest microloans to qualified borrowers. Our loans come with hands-on support in gathering the required documentation, creating financial projections, and submitting the loan application.

All microloans for this round have been dispersed. Please stay tuned for future microloan opportunities.

Who qualifies?

Eligible applicants include new or existing small food business owners interested in opening, expanding or retaining a business. Each applicant must qualify as meeting all of the following objectives of the microloan program:

  • Food business owners that live and do business in Kalamazoo County
  • Low- and Moderate-Income Persons
  • Black-owned business, Indigenous-owned business, People of Color-owned business, Latinx-owned business, immigrant-owned business, refugee-owned business, LGBTQ-owned business, or business owners with physical and invisible disabilities
What are the amounts of the microloans?

Loan amounts may range from $1,000 to a maximum of $3,000.

What are the terms of the loan?
They are flexible terms of one 1 to 2 years with an interest rate of 4%.
What are the eligible uses of the funds?

The microloan funds can be used to:

  • Purchase small food production equipment
  • Purchase inventory
  • Obtain licensing
  • Purchase packaging & print labels
  • Receive branding & packaging consultation
  • Provide working capital
What if I’m worried about paying it back?
Our microloan program is designed to help you prepare for paying the loan back. We’ll look at your business plan, talk about cash flow, and help you make a plan for paying it off.
What if my credit score is low?
We can work with any credit score.
What if I don’t have a Social Security number?
A social security number is not required as long as you have another form of identification.
How do I apply or get more information?

All microloans for this round have been dispersed. Please stay tuned for future microloan opportunities.

Scholarships

Starting a business is expensive. That’s why Can-Do Kalamazoo wants to give people who lack capital the opportunity to start businesses. Especially those who have been marginalized by structural inequities. Scholarship funds help aspiring entrepreneurs launch businesses with our ongoing incubation support. We’re currently accepting applications to be considered for a scholarship to attend Can-Do Camp. Find out more by emailing startup@candokalamazoo.org.